Algiers: His Majesty Sultan Haitham bin Tarik and President Abdelmadjid Tebboune of the People’s Democratic Republic of Algeria presided over the signing of a preliminary agreement, four memoranda of understanding (MoUs), two cooperation MoUs, and four executive programmes at the Presidential Palace in Algiers.
According to Oman News Agency, the agreements included the establishment of a joint Oman-Algeria Investment Fund and covered areas such as scientific, technical, educational, agricultural, investment, pharmaceuticals, judicial, and legal cooperation, as well as plant protection and animal health fields. A significant highlight was the signing of a cooperation MoU between the Oman Investment Authority (OIA) and Algeria’s Ministry of Finance to create a joint investment fund valued at RO 115.4 million (USD 300 million), shared equally between both nations. This fund aims to spur mutual economic growth in sectors like food security, pharmaceuticals, minerals, and mining.
In the mining sector, Minerals Development Oman, a subsidiary of OIA, signed an MoU with Algeria’s National Company for Mineral Exploration and Production to expand cooperation in mining. This agreement promotes knowledge transfer, economic diversification, and job creation while maintaining environmental and social standards.
In energy, Abraj Energy Services and Algeria’s Sonatrach agreed on terms for a joint venture based on an earlier MoU. Additionally, they finalized two agreements in 2025 for vocational training in oil and gas and set a framework for skill development.
A MoU in pharmaceuticals was signed between Oman’s Ministry of Health and Algeria’s Ministry of Industry and Pharmaceutical Production, focusing on cooperation in drug manufacturing, scientific research, and investment in pharmaceutical manufacturing. Additionally, a cooperation agreement was signed between the Ministry of Justice and Legal Affairs of Oman and Algeria’s Ministry of Justice, aiming to strengthen judicial collaboration.
In agriculture, an MoU was signed to enhance desert farming, modern agricultural technologies, and food safety standards. An executive programme was initiated for plant protection and animal health, facilitating exchanges in regulations and technical expertise.
The fisheries sector saw an executive program signed between Oman Marine Science and Fisheries Center and Algeria’s National Centre for Research and Development of Fisheries and Aquaculture, aiming to boost marine research and smart fishing technologies.
An educational executive programme was signed to enable academic exchanges and joint research between higher education institutions, stemming from a 2006 agreement. Furthermore, the Ministry of Labour of Oman and Algeria’s Ministry of Labour, Employment, and Social Security signed a programme to enhance labour inspection cooperation.
The agreements were signed by high-ranking officials from both countries, including Sayyid Badr bin Hamad Al Busaidi, Oman’s Foreign Minister, and Dr. Wassim Kouidri, Algeria’s Minister of Pharmaceutical Industry, among others.