Russian Trade with Algeria Reached a Record High

Russian Trade with Algeria Reached a Record High

As the Ministry of Industry and Trade reported on the results of the meeting of the Head of the Department Denis Manturov with the Minister of Industry and Mining of the African country Jamilee Tamazirt, last year, the volume of trade turnover between Russia and Algeria reached the maximum level of USD 4.8 billion. Compared to the year before, the increase was four percent.

According to the Head of the Ministry of Industry and Trade, the current trends and structure of bilateral trade confirm that the potential for Russian-Algerian cooperation is far from being exhausted. It is necessary to seek diversification of mutual trade and increase its sustainability.

The automotive industry, agricultural engineering, geological exploration, metallurgy, as well as joint projects in these areas, including the participation of Russian enterprises in the restoration of coke production at El Khajar Metallurgical Plant, open up expansion opportunities for the partnership.

We have earlier reported that Russian companies actively seek to participate in gas and gas condensate production projects in Algeria, following the example of successful cooperation between two state-owned companies: Russian Transneft and Algerian Sonatrach. Moreover, African countries can become trading partners of the EEU.

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