Russia-Algeria’s Bilateral Trade Experiences Significant Growth – OpEd

Russian-Algerian bilateral trade turnover increased 2.2 times and at the end of 2023 reached $3.765 billion, according to an official report on the working visit of Chairman of the State Duma, Vyacheslav Volodin, to Algiers in July 2024. "There is a significant increase in our foreign economic relations. Taking into account the agreement signed last year by our heads of states — the presidents of Russia and Algeria — on a deepened strategic partnership," he pointed out during discussions with Algerian President Abdelmadjid Tebboune.

As a further step to strengthen parliamentary relations, Russia's State Duma has reached an agreement on the creation of a high-level commission that will discuss the development of relations within the parliamentary dimension to resolve specific issues. After the conversation that took place in Moscow, at the State Duma, with Algerian president, several agreements and decisions were reached to resolve issues that would strengthen bilateral relations.

Volodin also conveyed to President Abdelmadjid Tebboune warm words of greetings from President of the Russian Federation, Vladimir Putin, and further noted the contribution of leaders of the two states – Vladimir Putin and Abdelmadjid Tebboune – to the development of relations between Russia and Algeria.

The friendship between Algeria and Russia had been tested by time, and "our duty is to carefully preserve it and pass it on to future generations," according to Volodin.

During the visit, Volodin also held negotiations focusing on pertinent issues such as the development of inter-parliamentary cooperation between Russia and Algeria, as well as enhancement of cooperation between the two states in various fields, including economics, agriculture, trade and tourism with the Speaker of the National People's Assembly of Algeria Brahim Boughali.

"We should do everything to make our own contribution within the parliamentary dimension to the development of relations between our states. It is very important to provide legislative support to implement various bilateral agreements," he underlined.

According to the Chairman of the State Duma, a creation of new formats of cooperation will be an important aspect of the development of inter-parliamentary dialogue. Volodin recalled that in 2023 during the visit of the Algerian President Abdelmadjid Tebboune to Russia, there was signed an agreement on strategic partnership and cooperation between Russia and Algeria.

According to Brahim Boughali, Algeria is interested in further strengthening of bilateral cooperation with the Russian Federation. "We are linked by historical ties that appeared just after the declaration of independence of our country. We seek to develop economic, cultural and scientific cooperation. All this should strengthen the political dialogue between our countries at all levels, in various fields," stressed the Speaker of the National People's Assembly of Algeria.

"The current international system is not able to effectively address the challenges our countries face. This requires additional efforts to develop our dialogue," added Brahim Boughali. Algeria's economy remains dominated by the state, a legacy of the country's socialist post-independence development model. In recent years, the Algerian government has halted the privatization of state-owned industries and imposed restrictions on imports and foreign involvement in its economy.

In assessing Russia's trade with Algeria at $3.7 is considered as high. But how that is compared with Turkey? Turkish direct investments have accelerated in Algeria, with total value reaching $5 billion. As of 2022, the number of Turkish companies present in Algeria has reached 1,400. In 2020, despite the pandemic, more than 130 Turkish companies were created in Algeria. In terms of tourism and travel, Turkish Airlines connects Algeria and many African countries.

With the current geopolitical changing situation, Russia works closely with 'politically like-minded' friends. It has long-time tested relations with Algeria, a country (an estimated population of 44 million) in the Maghreb region of North Africa. Russia and Algeria pursue common positions within all international organizations, including the United Nations.