✏️ BY: Dr. Hana Saada
Algiers, Algeria | June 9th, 2024 — Ali Aoun, Algeria’s Minister of Industry and Pharmaceutical Production, has emphasized the extensive opportunities for strengthening industrial cooperation between Algeria and Russia, particularly in the pharmaceutical and steel industries.
During an interview with Russian channel RT at the St. Petersburg International Economic Forum (June 5-8), Aoun highlighted how the event provided the Algerian delegation with a firsthand view of Russia’s advancements, particularly in heavy industries, pharmaceuticals, and renewable energy.
Aoun mentioned that his meetings with Russian officials and business leaders focused on exploring ways to intensify partnerships in steel production, transformation industries, and pharmaceuticals.
Prospective Partnership in Anticancer Drug Production
The minister announced an upcoming Algerian-Russian partnership for manufacturing raw materials for drugs, specifically for producing anticancer medications. He also emphasized Algeria’s significant progress in insulin crystal production, achieved through a partnership between the Saidal Group and a Russian partner. This project, initiated recently, is set to begin production by the end of 2025.
Significant Opportunities in the Tourism Sector
Aoun highlighted the tourism sector’s vast potential for cooperation and partnership between the two countries, given Algeria’s substantial resources in this area. He referenced a recent visit by an Algerian delegation to Russia aimed at promoting bilateral tourism partnerships and exchanges.
On the sidelines of the St. Petersburg International Economic Forum, Aoun participated in an Algerian-Russian working session. During this session, he reviewed the various incentives Algeria offers to national and foreign investors to facilitate the realization of their projects across all industrial sectors.
This strategic engagement underscores Algeria’s commitment to expanding its industrial and economic ties with Russia, fostering mutually beneficial collaborations in key sectors.
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