MOSCOW, June 14. /TASS/. Russia is considering the possibility of signing a free trade agreement with Algeria, Economic Development Minister Maxim Reshetnikov said at the Russian-Algerian business forum.

"Algeria is a user of EAEU trade preferences. We are interested in signing an agreement on free trade in goods and are ready to contribute to this, including through consultations in the EAEU," the minister said.

"We can cooperate in such areas as industry, energy, banks, geology and subsoil use, transport and logistics."

The minister also noted that statistics show a twofold increase in exports of Russian agricultural products. At the end of last year, the Transneft oil pipeline operator fulfilled a contract for diagnostics of Algerian pipelines. The BIOCAD pharmaceutical company supplies anti-inflammatory drugs, Geropharm has established the production of insulin in Algeria, the minister added.

"We pay great attention to the work of the intergovernmental commission. The priority task is to form an independent financial infrastructure. We respect the implementation of agreements within the framework of OPEC+," Reshetnikov said.