Algiers: The Algerian-Omani Business Forum, themed "Algerian-Omani Economic Partnerships: Pioneering Fields and Promising Prospects," took place 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, stated that the convening of this forum, which includes prominent business executives from both nations, demonstrates their shared commitment to strengthening ties, increasing bilateral investments, and exploring trade and investment prospects to increase commercial exchange, imports, and exports.
In his address, he emphasized that Oman wishes to diversify its imports, boost Omani exports, and develop investment integration between the two countries. He emphasized that the forum's goal is to foster joint cooperation and expand integration foundations toward broader horizons, establishing a competitive economy that interacts with global markets, adapts to change, and sustains national economic growth. He went on to say that both governments are dedicated to offering all needed amenities, incentives, and enablers to enable the private sector to contribute to sustainable prosperity and development.
The Minister is hopeful that Oman's presence as the guest of honor at the 56th Algiers International Fair will boost investment and trade links between the two nations. He urged the private sectors of both nations to play their part, with both governments prepared to give full support.
On his part, Tayeb Zitouni, Minister of Internal Trade and Market Regulation of the People's Democratic Republic of Algeria, expressed satisfaction with the historical and fraternal connections between the two nations, which have attained a strategic degree of convergence and understanding in recent years.
He noted the Algerian President's state visit to Oman in October 2024, which will be followed by His Majesty the Sultan's state visit to Algeria in May 2025, as important milestones in Algerian-Omani ties. These meetings resulted in a joint statement that explicitly expressed the leaders' dedication to strengthening their bilateral partnership and expanding it to new heights for the mutual benefit of both nations and peoples.
He remarked that Algerian-Omani economic cooperation has made significant progress, as seen by important initiatives such as the fertilizer production complex in Arzew City, which is expected to cost $2. 4 billion, and the creation of the Algerian-Omani Investment Fund. Furthermore, projects being researched in industries such as automobiles, energy, pharmaceuticals, and agriculture were highlighted. He emphasized the possibility of extending economic collaboration into promising and critical sectors such as tourism, services, cultural industries, and traditional crafts—areas in which both countries have considerable potential and genuine investment opportunities. He proposed doubling initiatives to establish export-import routes and make use of both countries' natural and human resources.
Meanwhile, Faisal Abdullah Al Rowas, Chairman of the Oman Chamber of Commerce and Industry, said that the forum addressed joint partnership possibilities and assessed accessible investment prospects in both nations.
He also stated that collaborations between investors from both nations are anticipated in a variety of industries, notably manufacturing and pharmaceuticals, emphasizing that the Algerian market is promising and strategically placed to give investors access to adjacent markets.
The forum included three panel sessions focusing on investment prospects in logistics, manufacturing, and urban development. Aside from these, there were sideline promotional presentations on investing in Oman and Algeria.
Bilateral meetings took place between business leaders from both nations to discuss joint trade and investment cooperation, such as opening marketing pathways for their goods and establishing joint investment initiatives.
The forum was attended by Saif Nasser Al Badai, Oman's Ambassador to Algeria, as well as other public and private sector officials and business leaders from both countries.
