Moscow-Algiers alliance forms amid diplomatic tensions
Russia and Algeria held a business forum on April 22nd, during which both countries expanded their bilateral relationship with the aim of establishing cooperation to create a strategic partnership to address current international challenges.
According to the Algerian government-friendly Al24 News, the forum was organised by the Algerian Chamber of Commerce and Industry (CACI). The forum’s slogan was “Towards a Deep Strategic Partnership,” a clear message of growth for the Russia-Algerian bilateral relationship.
Attending the forum were Algerian and Russian businessmen, with Russian Ambassador Alexey Solomatine stating that “the two countries are bound by centuries-old relations based on mutual understanding and constant coordination.”
Indeed, there is a key development of relations between the two countries, with a key moment coming in July of 2023 when Algeria, during the second Russia-Africa Summit, became an investment gateway for Russian investors to enter the continent.
This was reaffirmed when Russia sold Su-57 fighter jets to Algeria as the first international customer of the aircraft, to top their already 20 billion dollar deal worth of arms in 2022.
The relationship between the two countries is clearly not a new one, but rather a situation where Russia will see an opportunity to build its economy at a time when it has been so poorly affected by the ongoing sanctions caused by the war in Ukraine.
The current Russian economy is estimated to take a hit of a 50% decline in GDP in 2025 as European sanctions on Russia have frozen most of Russia’s central bank’s assets of 274 billion euros, making foreign investors wary of further sanctions or just a lack of removal in general.
This downward turn for the economy makes countries such as Algeria, which appear to be at odds with Europe themselves, attractive as they are currently expelling EU country ambassadors from their country after disputes over the Western Sahara.
President of the Algerian Council for Economic Renewal (CREA), Kamel Moula, commented on the wider situation and its benefits for both countries: “the current international situation requires bilateral cooperation capable of building a strong economy in areas such as the pharmaceutical industry, agricultural fertilisers, and energy.”
It appears that the Russian side is eager to pursue the bilateral relationship, as President of the Russia-Algeria Business Council, Ahmed Azimov, after announcing the annual organisation of the forum between the two countries, stated that “Russia is ready to transfer its technology and increase its investments in Algeria to the highest level.”
The belief by both countries to find a strong economic partnership at “the highest level” will be a situation which both parties will want to bring to fruition for their economies in an increasingly challenging geopolitical landscape.
AL24 News, Maghrebi.org
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