25 September 2017
The event was organized by the Russian Export Center and the Russo-Arab Business Council in cooperation with Russia’s Economic Development Ministry, the Energy Ministry, the Algerian Chamber of Commerce and Industry (CACI) and the Russian embassy and trade mission to Alegria.The plenary section of the business mission was opened by IGC co-chairmen Russian Energy Minister Aleksandr Novak and Algerian Finance Minister Abderrahmane Raouya. They welcomed the participants and expressed their hopes that bilateral trade would grow. Aleksandr Novak supported the initiative proposed by the business forum to expand the dialogue between the businesspeople of the two countries, emphasizing the need to provide maximum assistance, with regular exchanges of business delegations between the two countries, organizing industry-specific business missions and the participation of Russian and Algerian representatives in various business forums.
The CACI vice-president pointed out that Algerian business people are very interested in Russian products, services and technology, and made an official announcement regarding the launch of a major construction project in Annaba, where a major logistics hub will be created. He encouraged Russian companies to play a more active role in this project.
Russian Ambassador to Algeria Igor Belyayev praised the current level of bilateral relations, identifying the most promising areas of economic cooperation. In 2016, trade between the two countries almost doubled, reaching $3.98 billion. In Q2 2017, trade between Russia and Algeria grew by 29 percent versus Q2 of 2016, amounting to $1.38 billion.