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Times of Oman
24-06-2025
- Business
- Times of Oman
Forum in Algiers highlights Algerian-Omani Economic Partnerships
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.
Free Malaysia Today
14-05-2025
- Business
- Free Malaysia Today
M'sia must be positioned to benefit if Russia-US ties improve, says minister
Foreign minister Mohamad Hasan said relations between Malaysia and Russia have not flourished as much as they could have. MOSCOW : Malaysia must be prepared to seize emerging opportunities in trade and cooperation, particularly if geopolitical tensions between Russia and the US ease, says foreign minister Mohamad Hasan. He said Russia presented vast untapped opportunities due to its diverse resources and technological strengths, including in agriculture and other sectors. 'Malaysia and Russia have long-standing relations, but they haven't flourished as much as they could have due to the unilateral sanctions imposed on Russia by the US,' he said. 'There is much potential here, and we must be ready to explore these opportunities. Should US-Russia relations improve, we need to be positioned to benefit from it. 'Washington's current approach differs from (administrations) before, and I believe if ties normalise, Malaysia stands to gain significantly,' he said at a dinner with Malaysians in Russia on Tuesday. The dinner was in conjunction with Prime Minister Anwar Ibrahim's official visit to Russia, which began on Tuesday. Also present were agriculture and food security minister Mohamad Sabu; science, technology and innovation minister Chang Lih Kang; higher education minister Zambry Abdul Kadir; and plantation and commodities minister Johari Ghani. In his speech, Mohamad encouraged Malaysian students in Russia to uphold the nation's good name and return to contribute to Malaysia upon completing their studies, particularly in critical sectors such as medicine and engineering. Chang meanwhile stressed the importance of skilled talent to drive Malaysia's ambition of becoming a high-tech nation by 2030. 'With global uncertainties, it's a challenge to attract high quality, technology-driven and capital-intensive investments. We need a highly skilled workforce, both locally and from Malaysians abroad like all of you here,' he said. In his brief speech, Johari said he had been appointed as coordinating minister for Russia, a role aimed at facilitating trade engagement with Russia amid the ongoing sanctions. Anwar arrived in Moscow on Tuesday for a four-day official visit at the invitation of Russian president Vladimir Putin. The visit includes engagements in Moscow and Kazan.
