Algiers, Algeria – His Majesty Sultan Haitham bin Tarik and Algerian President Abdelmadjid Tebboune presided over the signing of multiple agreements on Monday aimed at strengthening bilateral cooperation across several sectors.

The ceremony, held at the Presidential Palace in Algiers, saw the signing of a preliminary agreement, four memoranda of understanding, two cooperation MoUs and four executive programmes.

A key outcome of His Majesty’s visit was establishment of a joint Oman-Algeria Investment Fund worth US$300mn to be equally shared between the two countries. The agreement was signed between Oman Investment Authority and Algeria’s Ministry of Finance. The fund will target investments in food security, pharmaceuticals, mining and other strategic sectors.

In the mining sector, Minerals Development Oman and Algeria’s National Company for Mineral Exploration and Production signed an MoU to promote cooperation in mining and related industries with a focus on knowledge transfer and sustainable development.

Abraj Energy Services and Algeria’s state-owned Sonatrach signed key terms for a joint venture based on a previously signed MoU. Earlier this year, the two parties agreed to develop vocational training in the oil and gas sector and build frameworks for technical and managerial skill development.

In healthcare, Ministry of Health and Algeria’s Ministry of Industry and Pharmaceutical Production signed an MoU to enhance cooperation in drug manufacturing, pharmacovigilance, scientific research and pharmaceutical investment.

Ministry of Justice and Legal Affairs signed a cooperation agreement with Algeria’s Ministry of Justice to expand collaboration in judicial matters, including training, sharing best practices and drafting international conventions, while  Supreme Judiciary Council inked an MoU with Algeria’s Ministry of Justice to support joint training, legal research and exchange of court rulings.

Agricultural cooperation was formalised through an MoU between the Ministry of Agriculture, Fisheries and Water Resources and Algeria’s Ministry of Agriculture, Rural Development and Fisheries focused on desert farming, agricultural biotechnology and food safety.

An executive programme was activated to implement an existing MoU on plant protection and animal health enabling technical collaboration in quarantine procedures, seed production and phytosanitary standards.

Oman Marine Science and Fisheries Centre and Algeria’s National Centre for Research and Development of Fisheries and Aquaculture signed an executive programme to support cooperation in marine research, aquaculture and smart fishing technologies.

An executive programme in education, stemming from a 2006 bilateral agreement, was signed to facilitate academic exchange, scholarships and collaborative research between institutions in both countries.

Additionally, Ministry of Labour and Algeria’s Ministry of Labour, Employment and Social Security signed an executive programme to strengthen cooperation in labour inspection, dispute resolution and training.