Russia Proposes Establishment of Free Trade Zone to Algeria
BY: Dr. Hana Saada
ALGIERS- Russian Minister of Economic Development Maxim Rechetnikov announced on Thursday, February 8th, that his country has proposed to Algeria the initiation of negotiations for the creation of a free trade zone. This announcement was made during the International Forum “Russia 2030 and the New Economic Order: Key Factors and the Role of Business.”
During the International Forum “Russia 2030 and the New Economic Order: Key Factors and the Role of Business,” Russian Minister of Economic Development Maxim Rechetnikov disclosed on Thursday, February 8th, that Russia has extended an offer to Algeria for the commencement of discussions aimed at establishing a free trade zone between the two nations.
The proposal to enter into a free trade agreement between Russia and Algeria was initially deliberated upon during the International Economic Forum in Saint Petersburg last June. Additionally, it is noteworthy that members of the Eurasian Economic Union, of which Russia is a part, are currently in the process of preparing free trade zone agreements with several countries in North Africa, including Algeria.
The proposition to establish a free trade zone between Russia and Algeria underscores the growing interest and commitment of both countries to enhance economic cooperation and bilateral trade relations. Such an agreement has the potential to facilitate increased trade volume, promote investment opportunities, and foster economic growth for both nations.
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