On November 21, a meeting of the Russian-Algerian Business Council was held at the Chamber of Commerce and Industry of the Russian Federation. In a round table format, the participants discussed business cooperation opportunities between the two countries. Algeria, the largest state in Africa, is one of Russia's most important partners on the continent.

The meeting was attended by Vladimir Padalko, Vice President of the Russian Chamber of Commerce and Industry, Boumediene Guennad, Ambassador Extraordinary and Plenipotentiary of Algeria to the Russian Federation, Irina Abramova, Director of the Institute of Africa of the Russian Academy of Sciences, Pavel Kalmychek, Director of the Department for Development of Bilateral Cooperation of the Ministry of Economic Development of the Russian Federation. Akhmed Azimov, Chairman of the Board of the Center for International Strategic Initiatives, who was elected Chairman of the Russian-Algerian Business Council in October 2024, moderated the discussion.

The meeting was opened by Vladimir Padalko, Vice President of the Russian Chamber of Commerce and Industry. He spoke about the key events held by the business community in recent years.

“We are in favor of moving from simple transactions to complex cooperation, which is linked to industrial and scientific cooperation, mutual investments, and joint work in third countries,” said the Vice President of the Chamber.

Vladimir Padalko said that for almost 15 years there is a cooperation agreement between the Chamber of Commerce and Industry of the Russian Federation and the Algerian Chamber of Commerce and Industry. The chambers exchange information on the specifics of the business of both countries, contribute to the strengthening of partnerships between companies.

Vladimir Padalko said that for almost 15 years there has been a cooperation agreement between the Chamber of Commerce and Industry of the Russian Federation and the Algerian Chamber of Commerce and Industry. The chambers exchange information on the specifics of the business of both countries, contribute to the strengthening of partnerships between companies.

“Our Chamber promises to help business in terms of information exchange, protection of Russian interests in Algeria, including through arbitration, mediation, provision of advisory and other support,” added Vladimir Padalko.

Ambassador Extraordinary and Plenipotentiary of Algeria to the Russian Federation Boumediene Guennad reminded that this year Algeria celebrates the 70th anniversary of the beginning of the war of liberation from France. Algerian independence from France was proclaimed on July 5, 1962.

Boumediene Guennad said that the Algerian Embassy in Russia commits working together to develop bilateral relations in the field of economy and trade.

 “Today, the Algerian government is engaged in the development of various programs to stimulate investment, including by entrepreneurs from Russia,” the Algerian ambassador to Russia said.

Irina Abramova, Director of the Institute for African Studies of the Russian Academy of Sciences, informed the participants about the progress in the implementation of the Declaration on Deepening the Strategic Partnership, which has brought Russian-Algerian relations to a new qualitative level. She listed the most promising areas for the development of interstate relations and drew attention to problems with logistics and payments. According to Irina Abramova, Algeria and Russia are very similar by many criteria:

“First of all, they are major suppliers and owners of mineral and energy resources. Here it is important for us to build relations of partnership rather than competition. This is what we have done in recent years,” concluded Irina Abramova.

Pavel Kalmychek, Director of the Department for the Development of Bilateral Cooperation of the Ministry of Economic Development of the Russian Federation, noted a significant increase in the interest of Russian entrepreneurs in doing business with Algeria. In 2023, the trade turnover between Russia and Algeria almost doubled and amounted to $3,7 billion. At the same time, the Ministry's analysts estimated the unrealized trade potential of the two countries at another $9 billion.

 “This is the kind of analysis that allows us to be optimistic about the future,” Pavel Kalmychek emphasized.

The representative of the Ministry of Economic Development added that preparations are underway for the meeting of the Intergovernmental Russian-Algerian Commission for Trade and Economic, Scientific and Technical Cooperation, which will take place at the end of January 2025.

Vasily Kuznetsov, Deputy Director of the Institute of Oriental Studies of the Russian Academy of Sciences, Rushan Abbyasov, Deputy Chairman of the Spiritual Administration of Muslims of Russia, Alexander Iodchin, First Deputy General Director for Strategy and Development of Delo Group, and representatives of expert and professional communities also addressed the meeting.

In the last part of the meeting, the participants discussed the proposals and organizational issues of the Russian-Algerian Business Council. The discussion resulted in the adoption of a resolution defining the main directions of further cooperation between the two countries.

In the last part of the meeting, the participants discussed the proposals and organizational issues of the Russian-Algerian Business Council. The discussion resulted in the adoption of a resolution defining the main directions of further cooperation between the two countries.

By Daniil Bordyugov,

Press service of the Russian Chamber of Commerce and Industry