Algiers: The Sultanate of Oman's participation in the 57th edition of the Algiers International Fair today witnessed the signing of a number of agreements and memoranda of understanding between several Omani companies and their Algerian counterparts.
According to Oman News Agency, these agreements covered diverse fields including logistics services, food and fish industries, building materials, manufacturing industries, and industrial and commercial products. This initiative aligns with Oman's strategic efforts to enhance the presence of its products in African and international markets, supporting the growth of non-oil exports and the objectives of Oman Vision 2040. The vision aims to diversify income sources and bolster the competitiveness of the national economy.
Oman is participating in the fair with 20 companies representing various vital economic sectors. These sectors include food and beverages, fish and seafood, iron and building materials, the agricultural sector and fertilizers, plastics, buses and commercial vehicles, chemical and pharmaceutical industries, and logistics services, along with perfume, frankincense, water, confectionery, and handicraft industries.
These agreements are part of broader efforts to enhance economic and commercial relations between Oman and Algeria, opening new investment partnership opportunities and expanding the presence of Omani companies in African markets.
The fair serves as a crucial platform for concluding commercial deals and facilitating bilateral meetings between Omani businesspeople and their international counterparts, thus promoting commercial and investment exchange.
Through its participation, the Ministry of Commerce, Industry and Investment Promotion seeks to explore growth opportunities for national companies, acquire insights on the latest sectoral developments and innovations, and enhance the efficiency of Omani products in foreign markets. This effort supports economic diversification and boosts the competitiveness of Omani products globally.
The signing ceremony was attended by Saif Nasser Al Badaai, Ambassador of Oman to Algeria, along with officials from Oman Exports and representatives of the participating Omani companies.