Forum in Algiers highlights Algerian-Omani Economic Partnerships

Times of Oman

4 days ago

Algiers: The Algerian-Omani Business Forum, titled 'Algerian-Omani Economic Partnerships: Pioneering Fields and Promising Prospects," was held on Tuesday in the Algerian capital, as part of Oman's participation as the guest of honour at the 56th Algiers International Fair.
Qais Mohammed Al Yousef, Minister of Commerce, Industry and Investment Promotion, emphasized that the organisation of this forum—attended by elite business leaders from both countries—reflects the mutual interest in strengthening relations, enhancing bilateral investment and exploring trade and investment opportunities to boost commercial exchange, imports and exports.
In his speech, he stated that Oman seeks to diversify its imports, promote Omani exports and establish investment integration between the two nations. He noted that the forum aims to develop joint collaboration and expand the foundations of integration toward broader horizons, building a competitive economy that interacts with global markets, adapts to changes, and sustains national economic growth. He added that both governments are committed to providing all necessary facilities, incentives and enablers to empower the private sector in contributing to sustainable prosperity and development.
The Minister expressed hope that Oman's participation as the guest of honor at the 56th Algiers International Fair would enhance investment and trade exchange between the two countries. He called on the private sectors in both nations to play their desired role, with both governments ready to provide all required support.
On his turn, Tayeb Zitouni, Minister of Internal Trade and Market Regulation of the People's Democratic Republic of Algeria, expressed pride in the historical and fraternal ties between the two countries, which have reached a strategic level of convergence and understanding in recent years.
In his remarks, he highlighted the state visit of the President of Algeria to Oman in October 2024, followed by the state visit of His Majesty the Sultan to Algeria in May 2025, as pivotal milestones in Algerian-Omani relations. These visits culminated in a joint statement that clearly affirmed the leaders' commitment to strengthening bilateral partnership and elevating it to broader horizons, serving the mutual interests of both nations and peoples.
He noted that Algerian-Omani economic cooperation has taken promising steps, reflected in major projects such as the fertilizer production complex in 'Arzew" city, valued at approximately $2.4 billion, and the establishment of the Algerian-Omani Investment Fund. Additionally, projects under study in sectors such as automobiles, energy, pharmaceuticals, and agriculture were discussed. He stressed the potential to expand economic cooperation into promising and vital sectors like tourism, services, cultural industries, and traditional crafts—areas where both countries possess significant potential and real investment opportunities. He called for doubling efforts to develop export-import channels and leveraging both nations' natural and human resources.
Meanwhile, Faisal Abdullah Al Rowas, Chairman of Oman Chamber of Commerce and Industry, stated that the forum explored joint partnership opportunities and reviewed available investment prospects in both countries.
He added that partnerships between investors in both nations are expected in various sectors, particularly manufacturing and pharmaceuticals, noting that the Algerian market is promising and strategically positioned to provide investors access to neighboring markets.
The forum featured three panel discussions addressing investment opportunities in logistics, manufacturing, and urban development. Additionally, promotional presentations on investment in Oman and Algeria were showcased on the sidelines.
Bilateral meetings were held between business leaders from both countries to explore joint trade and investment cooperation, including opening marketing channels for their products and establishing joint investment ventures.
The forum was attended by Saif Nasser Al Badai, Ambassador of Oman to Algeria, along with several officials from the public and private sectors and some business leaders from both nations.