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Oman, Algeria sign 8 MoUs to boost trade, ties

29 Oct 2024 Oman, Algeria sign 8 MoUs to boost trade, ties

Muscat – The Sultanate of Oman and the People’s Democratic Republic of Algeria signed eight memoranda of understandings (MoUs) as part of a state visit by Algerian President Abdelmadjid Tebboune on Tuesday.

The MoUs relate to cooperation in the fields of higher education, scientific and educational research, financial services, employment, training, media, environment, sustainable development, investment promotion, and organising exhibitions, events and conferences.

The MoUs were signed on behalf of Government of Oman by H E Sayyid Badr bin Hamad al Busaidi, Foreign Minister, H E Sultan bin Salim al Habsi, Minister of Finance, H E Qais bin Mohammed al Yousef, Minister of Commerce, Industry and Investment Promotion, and H E Salim bin Nasser al Aufi, Minister of Energy and Minerals.

On behalf of Government of Algeria, the agreements were signed by Ahmed Attaf, Minister of Foreign Affairs and National Community Abroad, Kamal Badri, Minister of Higher Education and Scientific Research, Laaziz Faid, Minister of Finance, Tayeb Zitouni, Minister of Trade and Exports Promotion, Fazia Dahleb, Minister of Environment and Renewable Energy, and Omar Rekache, Director General of Algerian Agency for Investment Promotion.

H E Sayyid Badr described the MoUs as part of a strategy to exchange knowledge and expertise. “The MoUs focus on priorities between the two countries and they help stimulate partnership and rapprochement, both at the level of government institutions and private sector establishments.”

He added that Omani-Algerian relations will witness further growth and prosperity, with follow-up mechanisms in place to ensure that both sides gain benefits.

The foreign minister pointed out that there are a number of companies operating and investing in the two countries, stressing the importance of promoting and supporting this trend and pushing for further cooperation in economic and investment fields.

His Algerian counterpart Attaf said the MoUs aim at generating mutual benefits. He pointed out that the pacts pave the way for expanding areas of bilateral cooperation, with emphasis on priority sectors.

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