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The ways and means of intensifying the partnership between Algerian and Russian companies in the field of steel, processing industries and pharmaceuticals were reviewed by Russian business leaders and the Minister of Industry and Pharmaceutical Production, Ali Aoun, according to whom the prospects for strengthening industrial cooperation between Algeria and Russia are broad and diversified.
It was on the sidelines of the International Economic Forum in Saint Petersburg, which was held from June 5 to 8, that the Minister of Industry met with Russian business leaders and participated in a session of Algerian-Russian work, where the incentives that Algeria offers to national and foreign investors for the realization of their projects in all industrial sectors were exposed, highlighting the place occupied by the industrial sector in the structure of the national economy. The prospects for strengthening industrial cooperation between Algeria and Russia are broad and diversified, according to the minister.
In a statement to the Russian channel RT, on the sidelines of his participation in this economic forum, Mr. Aoun indicated that this economic event was an opportunity for the Algerian delegation to “see closely the developments experienced by the industry in Russia , particularly in the field of heavy and pharmaceutical industries and renewable energies.”
These meetings with Russian officials and business leaders made it possible to examine ways and means of intensifying the partnership, particularly in the steel industry and the processing and pharmaceutical industries, according to the minister’s details.
After welcoming Russia’s great progress in the pharmaceutical industry, especially in the manufacture of anticancer drugs, the minister announced that an Algerian-Russian partnership will be established for the manufacture of raw materials for these drugs.
He also highlighted the great progress made by Algeria in the manufacture of insulin crystals, as part of a partnership established between the Saidal Group and a Russian partner, specifying that this project, the first stone of which was was laid a few days ago, will enter production at the end of 2025.
Aoun also affirmed that the tourism sector also presented significant prospects for cooperation and partnership between the two countries, given Algeria’s enormous potential in this area, recalling the recent visit of a delegation of Algerian operators in Russia to promote partnership and bilateral tourism exchanges.