MOSCOW, June 15. /TASS/. Russian President Vladimir Putin considers it important to expand the practice of mutual settlements in national currencies with Algeria.

He made his position clear at a press conference following talks with his Algerian counterpart Abdelmadjid Tebboune.

Putin noted that "for many years Algeria has consistently been among Russia's leading trade partners on the African continent."

"Suffice it to say that just in the first quarter of this year, the growth in trade turnover amounted to over 73%, while mutual trade in agricultural products doubled," he said.

"Undoubtedly, it is important to work together to expand the practice of settlements in national currencies between our countries, which will make it possible to protect countertrade against the influence of third countries and the negative situation in the world’s currency markets," the Russian leader added.

Putin touched upon cooperation in the energy sector, which, according to him, is "serious." He noted that large energy companies have been operating in the Algerian market for a long time. The Russian President cited Gazprom and Algeria’s Sonatrach as examples, which are participating in the development of the El Assel oil and gas field, located in the east of the Algerian part of the Sahara Desert. In his opinion, Transneft, Stroytransgaz, Power Machines, and other large Russian companies also have good track records.

The Russian leader recalled that the Russian-Algerian commission works on a permanent basis, and its eleventh meeting is to be held in the second half of the year in Moscow. It will focus on solving problems related to deepening mutually beneficial business and investment relations, as well as promoting large-scale investment projects.

Moreover, Algeria is showing interest in developing its nuclear energy sector.

"The Rosatom state corporation, which has unique experience and expertise and, by the way, whose [technologies] are unparalleled in the world, is ready to participate in joint projects, including those related to the non-energy use of nuclear technologies, for example, in the fields of medicine and agriculture," Putin added.

The Russian leader drew attention to the fact that there are good prospects for Russian-Algerian business cooperation in many other sectors, including the automotive industry, transportation and agricultural engineering, the peaceful use of outer space, communications and telecommunications.

"Moreover, the Russian side is ready not only to supply equipment and organize its after-sales service, but also to establish local production in Algeria, to train Algerian personnel," the Russian President added.