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Iran president urges enhanced economic, trade cooperation with Algeria

Iranian President Ebrahim Raeisi (4th L) and his Algerian counterpart Abdelmadjid Tebboune (4th R) attend a meeting of the high-ranking delegations of the two countries in Algiers on March 3, 2024. (Photo by

Iranian President Ebrahim Raeisi says Iran and Algeria should take steps towards further improvement of the level of economic and trade relations between the two countries.

Raeisi made the remarks while speaking at a meeting of high-ranking delegations of Iran and Algeria in Algiers on Sunday.

The meeting took place a day after the Iranian president attended the 7th summit of the leaders of the Gas Exporting Countries Forum (GECF) in Algiers.

Raeisi said Iran and Algeria have good political relations and share cultural and religious commonalities.

He added that Iran has managed to make significant economic progress and has managed to produce a diverse range of high-quality industrial, agricultural, and knowledge-based products.

“Iran's large potentials in the economic sector are a suitable background for the development of bilateral cooperation in the fields of energy, technology, engineering, industries, petrochemicals and finance (with Algeria),” Raeisi said.

The Iranian president expressed hope that his current visit to Algeria would be a “turning point” in efforts aimed at bolstering trade and economic cooperation between the two countries.

He commended Algeria's leading role in the fight against hegemony and colonialism and said, “Algeria's regional policy is in line with promoting peace and security in the region and we view this policy as positive.”

Raeisi said that Tehran and Algiers have common views on various regional issues, especially on the fight against terrorism as he emphasized that expanding relations between the two Muslim nations would also strengthen regional and international relations.

He noted that the two countries have held talks about the formation of a joint financial fund to support knowledge-based activities while calling for more cooperation in this regard.

Raeisi voiced Iran's readiness to transfer experience in the fields of science and technology, energy and petrochemicals to Algeria.

The Iranian president had raised the issue of technology transfer in his address to the summit of the GECF leaders on Saturday where he said Iran is ready to become an energy hub and a secure conduit for gas distribution and transit between producers and markets around the world.

Algerian President Abdelmadjid Tebboune, for his part, said in the meeting with Raeisi that Iran and Algeria had agreed to boost trade, economic and political relations and to increase trade and financial exchanges.

Tebboune hailed Iran's progress in recent years despite extensive sanctions imposed on the country as he insisted that Algiers is keen to expand political, economic and technological relations with Tehran.

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