His Majesty Sultan Haitham bin Tarik and President Abdelmadjid Tebboune of the People’s Democratic Republic of Algeria are working together to establish a joint Omani-Algerian investment fund. This fund will focus on partnerships and projects in various sectors such as renewable energy, petrochemicals, desert farming, technology, and tourism. The collaboration between the two countries was emphasized in a joint communiqué released during President Tebboune’s visit to Oman in October 2024.
During President Tebboune’s visit, discussions were held to strengthen bilateral cooperation in order to benefit both countries. The leaders of Oman and Algeria expressed their satisfaction with recent advancements, including the 8th session of the Omani-Algerian Joint Committee and a business symposium that explored opportunities in investment and trade. They have given directives to enhance communication, exchange visits, and implement joint initiatives that will benefit the people of both nations.
In addition to the joint investment fund, the two sides also emphasized the importance of promoting partnerships at the private sector level and increasing commercial and industrial exchange. This includes utilizing each country’s markets and locations to facilitate national exports’ access to regional and global markets. Eight memoranda of understanding were signed in various fields such as investment promotion, education, the environment, financial services, and the media during President Tebboune’s visit.
The leaders of Oman and Algeria also discussed current regional and international developments, specifically addressing the need for an end to Israeli aggression in Palestinian territories, Lebanon, Syria, and Iran. They advocated for the Palestinian people’s right to establish an independent state with East Jerusalem as its capital, based on the Two-State Solution. Both countries stressed the importance of cooperation and coordination in regional and international organizations to promote security, peace, and stability.
The joint communiqué highlighted the mutual appreciation between Oman and Algeria for each other’s efforts in supporting Arab issues and promoting justice. Algeria commended Oman’s peaceful role in easing tensions and fostering positive cooperation among countries, while Oman recognized Algeria’s constructive role as an Arab member in the Security Council. President Tebboune expressed his gratitude for the warm welcome and hospitality he received in Oman and extended an invitation for His Majesty Sultan Haitham bin Tarik to visit Algeria, which was accepted with gratitude by the Sultan.
The visit and joint communiqué between Oman and Algeria signify the strengthening of ties between the two countries and a commitment to advancing cooperation in various sectors for the benefit of their people. The establishment of a joint investment fund and the signing of memoranda of understanding demonstrate a concrete step towards enhancing bilateral relations and promoting economic and social development. By working together, Oman and Algeria aim to contribute to regional peace and stability while upholding principles of justice and international law.
