11 hours ago
Business forum strengthens Oman and Algeria economic ties
ALGIERS: Oman and Algeria reaffirmed their growing economic partnership during the Omani-Algerian Businessmen Forum held in Algiers on Tuesday, under the theme 'Algerian-Omani Economic Partnerships: Pioneering Areas and Promising Prospects.' The forum took place as part of Oman's participation as Guest of Honour at the 56th Algiers International Fair.
The event brought together key officials and business leaders from both countries to explore avenues for trade, investment, and industrial collaboration. It underscored the shared commitment of Oman and Algeria to deepen their economic integration and capitalise on emerging opportunities in sectors ranging from manufacturing to logistics and urban development.
Qais bin Mohammed al Yousef, Oman's Minister of Commerce, Industry and Investment Promotion, highlighted the significance of the forum in reinforcing bilateral relations. 'The participation of business leaders from both countries reflects our shared desire to enhance cooperation, expand trade, and explore new investment opportunities,' he said.
Al Yousef emphasised Oman's efforts to diversify imports, promote Omani exports, and foster investment integration with Algeria. He noted that both governments are working to provide the necessary incentives, facilities, and enablers to empower the private sector to drive sustainable economic growth.
'Our aim is to build a competitive economy that can keep pace with global changes, while ensuring the sustainability of national development,' Al Yousef added. He also expressed hope that Oman's role as Guest of Honor at the fair would further strengthen trade and investment ties between the two nations.
Tayeb Zitouni, Algeria's Minister of Internal Trade and National Market Control, praised the strong historical and brotherly relations between the two countries, which he said have reached a new strategic level in recent years.
He pointed to recent high-level state visits — including the Algerian President's trip to Oman in October 2024 and His Majesty the Sultan's visit to Algeria in May 2025 — as pivotal moments that deepened bilateral understanding and commitment.
Zitouni highlighted key joint initiatives, such as the $2.4 billion fertiliser production complex in Arzew and the establishment of the Algerian-Omani Investment Fund. He also mentioned new opportunities under study in automotive, energy, agriculture, and pharmaceuticals.
'There is strong potential to expand cooperation in vital sectors like tourism, services, and cultural and traditional industries,' Zitouni said. He called on stakeholders from both sides to redouble efforts to strengthen trade channels and maximise their complementary resources.
Faisal bin Abdullah al Rawas, Chairman of the Oman Chamber of Commerce and Industry, noted that the forum provided a platform to explore joint ventures across various sectors. He singled out the pharmaceutical and manufacturing industries as areas of promising collaboration.
Al Rawas emphasised Algeria's strategic geographic position, which offers access to broader regional markets, making it an attractive destination for Omani investors. — ONA
