signature d’un accord et d’un mémorandum d’entente entre la CACI et la Safex et leurs homologues russes
Summary of the Algeria-Russia Cooperation Agreements
On Tuesday in Algiers, notable agreements aimed at enhancing bilateral trade and investment were established between Algeria and Russia. The agreements were made official during a ceremony at the Algerian-Russian Business Forum held at the Safex Exhibition Palace in El-Harrach.
A cooperation agreement was signed between the Algerian Chamber of Commerce and Industry (CACI) and the Russian Chamber of Commerce and Industry. The agreement was formalized by CACI President Kamel Hamenni and N. Katyrin, President of the Russian Chamber. Additionally, a memorandum of understanding between the Algerian Exhibition Company, a subsidiary of Safex, and the Russian firm Expocentre was also signed, with CACI Director-General Chakib Kouidri and Expocentre Director-General Maxim Fateev representing their respective organizations.
The signing event was attended by distinguished guests, including the Russian ambassador to Algeria, Alexey Solomatine, Rabah Fassih, the director of Economic Exchange Promotion at the Ministry of Foreign Affairs, and Kamel Moula, President of the Economic Renewal Council of Algeria (CREA), along with other economic representatives from both nations.
Ahmed Azimov, president of the Russo-Algerian Business Council, highlighted the necessity of updating the 2006 agreement to adapt to recent changes in investment and cooperation conditions between the two nations. The newly signed agreement aims to bolster exchanges between businesses, particularly small and medium-sized enterprises (SMEs), fostering a conducive environment for partnerships.
The memorandum with Expocentre is designed to create a strategic partnership between the leading exhibition organizers of both countries, supporting Algerian and Russian companies in participation at joint events.
The Algerian-Russian Business Forum gathered a significant number of Russian companies from various sectors, particularly energy and natural resources, industry and technological development, digital economy and IT, agribusiness and food security, health and pharmaceuticals, as well as construction and infrastructure. The forum’s overarching goal is to strengthen economic and commercial ties and foster sustainable bilateral partnerships.
The program included a plenary session with officials and institutional representatives from both countries, followed by B2B meetings aimed at facilitating direct business interactions. This event marked a critical step toward solidifying economic collaboration and enhancing trade relations between Algeria and Russia.
Through these agreements and the business forum, both countries seek to pave the way for future opportunities, leveraging their respective strengths to boost their economies and enhance mutual investments. The emphasis on SMEs highlights a shared understanding of the importance of fostering grassroots business relations, which are vital for long-term economic growth.
In summary, the agreements signed reflect a mutual commitment to strengthen economic cooperation, adapt to changing global conditions, and create favorable partnerships that will benefit businesses in both Algeria and Russia. The establishment of these frameworks signifies a proactive approach to international commerce and paves the way for a bright future in their bilateral relations.
