Russia and Algeria sign first Memorandum of Cooperation

The capitals of Russia and Algeria (Moscow and Algiers) have signed the first Memorandum of Cooperation. This happened during the visit to the North African country of a delegation of the Department of Foreign Economic and International Relations (DFEIR) of the Russian capital. The delegation was headed by Sergei Cheryomin, Moscow Government Minister.

An important result of the visit of the Moscow delegation to Algeria on 12-13 March was the signing of the first Memorandum of Cooperation between the capitals of the two countries, as reported by TAAS.

"We are witnessing a historic event. The document will certainly contribute not only to the strengthening of relations between the administrations of the capitals, but also between the business communities and investors," noted Cheryomin.

"Russia has been and remains a strategic partner of Algeria. The two states are linked by long-standing friendly relations and mutually beneficial cooperation. The possibility of implementing the most important infrastructure projects and using Moscow's best practices in major municipal sectors is of particular interest to us," stressed for his part, Mohamed Abdennour Rabehi, Governor of the Algerian capital.

The discussion on economic cooperation, prospects of entering the Algerian market with the products of Moscow companies, as well as bilateral opportunities for localisation of engineering production continued during the meeting with Minister of Industry Ahmed Zeghdar and the business conference held at the Algerian Chamber of Commerce and Industry.

"Representatives of major companies discussed promising projects, including the construction of a new railway station in the Algerian capital, new underground lines and expansion of the urban tram network, and issues of digitalisation of urban processes," the DFEIR delegation noted.

Later this year, Moscow plans to hold an extended trade mission of the capital's companies in Algeria, there will be detaily discussed joint projects.

Photo: IStock