Trade turnover between Russia and Algeria doubled to $3.7 billion in 2023, Vice President of the Chamber Vladimir Padalko said during a meeting of the Russian-Algerian Business Council.
“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,” Padalko said.
The Vice President of the Chamber added that the analysts from the Russian ministry of economic development estimated the unrealized trade potential of the two countries at another $9 billion.
Ambassador Extraordinary and Plenipotentiary of Algeria to Russia Boumediene Guennad noted during the meeting that the Algerian Embassy in Russia commits to working together to develop bilateral relations in the field of economy and trade.
According to the statement of the Russian Chamber of Commerce and Industry, preparations are underway for a 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.