Novosibirsk entrepreneurs familiarized themselves with the economic potential of Algeria
On March 20, within the framework of cooperation between the Investment Promotion Agency of the Novosibirsk Region and the trade missions of Russia in foreign countries with the information support of the Novosibirsk City Chamber of Commerce and Industry (NCCCI) was held a webinar “Hour with the Trade Representative” dedicated to the development of trade and economic cooperation between the Novosibirsk business and the People’s Democratic Republic of Algeria.
The event was attended by the Deputy Trade representative of the Russian Federation in the People’s Democratic Republic of Algeria Sergey Sharaev, Advisor to the Director General for International Affairs of the Investment Promotion Agency of the Novosibirsk Region Vasiliy Plotnikov, Chief Foreign Relations Specialist of the NCCCI Julia Naumkina and about 10 Novosibirsk companies of external economic activity, including members of the NCCCI.
Sergey Sharaev told about the economy of the People’s Democratic Republic of Algeria. It’s the 4th largest economy in Africa and 3rd partner of The Russian Federation in Africa. Russian exports to Algeria in 2022 amounted to about 1.7 billion dollars and are mainly represented by oil and oil products. Mr. Sharaev also outlined the most popular sectors for cooperation: food products (cereals, oil and fat products), machine building (for the fuel and energy sector, transportation), metals (ferrous metals and products made of them).
Mr. Sharaev presented the peculiarities of the Algerian economy, the specifics of foreign economic activity in the country and the most effective ways to enter the Algerian market.
Summing up the meeting, the Deputy Trade Representative of the Russian Federation in the People’s Democratic Republic of Algeria answered relevant questions from entrepreneurs in Novosibirsk Region and expressed his readiness to assist Russian companies in their cooperation with Algeria.
Press Service of the NCCCI
March 21, 2024