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Algeria stands for expansion of Russian investment in country — energy minister

It is reported that Algeria has suggested that a memorandum of understanding be signed with Russia to "ensure bilateral cooperation between the sides in the area of geology, mining industry"

MOSCOW, June 14. /TASS/. Algeria urges Russian companies to increase investment in the country, Algeria's Minister of Energy and Mines Mohamed Arkab said at the Russian-Algerian business forum on Wednesday.

"The level of investment in Algeria by Russian companies still does not meet the required level. The level of wants and needs does not reflect the force of our relations," he said. "In this respect we urge Russian companies to fortify and intensify their investments in Algeria," the minister noted.

The republic is also interested in strengthening and developing relations with Russia for finding new possibilities in geological exploration, production of energy and other areas, he added.

Algeria has suggested that a memorandum of understanding be signed with Russia to "ensure bilateral cooperation between the sides in the area of geology, mining industry," the minister said.

"I repeat that we are committed to going ahead and achieving progress at the level of bilateral relations for implementing the interests of our two countries," he concluded.

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