HM The Sultan, Algerian President Applaud Establishment of Algerian-Omani
Investment Fund
Muscat, 5 May (ONA) —- His Majesty Sultan Haitham bin Tarik
and President Abdelmadjid Tebboune of the People’s Democratic Republic of
Algeria, commended the establishment of the “Algerian-Omani Investment
Fund” as a mechanism to finance joint investments between the two nations,
enhance their volume, and ensure diversification and expansion across all
sectors.
This was stated in the joint communiqué issued today on the
occasion of the state visit of His Majesty Sultan Haitham bin Tarik to the
People’s Democratic Republic of Algeria on 4-5 May 2025.
It reads as follows:
“At the invitation of President Abdelmadjid Tebboune of the
People’s Democratic Republic of Algeria, His Majesty Sultan Haitham bin Tarik,
Sultan of Oman, paid a state visit to Algeria on 4-5May, accompanied by a high-ranking
delegation.
At the outset of the visit, President Tebboune welcomed His
Majesty Sultan Haitham bin Tarik, praising this renewed meeting that reflect
the fraternal relations, cooperation, and solidarity binding the Algerian and
Omani peoples.
On his turn, His Majesty expressed his pleasure at visiting
Algeria and extended his gratitude for the warm reception accorded to him and
his accompanying delegation. He highlighted the distinguished ties between the
two nations, rooted in historical, cultural, and solidarity-based bonds, as
well as a shared destiny.
In an atmosphere of mutual understanding, the two leaders held
in-depth and constructive discussions on bilateral relations and ways to
strengthen them across various fields. They also exchanged views on regional
and international issues of common interest and chaired an expanded meeting
between the two delegations.
Both sides praised the progress in bilateral relations in recent
years, particularly following President Tebboune’s state visit to Muscat during
28-30 October 2024, and the eighth session of the Joint Committee held in
Algeria on 11-12 June 2024. They also commended the steps taken to implement
the outcomes of these meetings.
The two leaders affirmed their commitment to further enhancing
cooperation and partnership, leveraging the vast potential of both countries.
The two sides encouraged joint public and private sector
investment projects, building on the successful partnership in fertilizer,
ammonia, and urea production in the Arzew industrial zone—a $2.4 billion
project. They also welcomed ongoing discussions for projects in automotive
manufacturing, energy, pharmaceuticals, and other sectors, urging their swift
implementation and the exploration of new areas for mutual benefit.
They lauded the establishment of the “Algerian-Omani
Investment Fund” as a tool to finance joint ventures, increase their
scope, and ensure diversification across all fields.
Regarding trade, the two leaders directed intensified efforts to
boost trade volume, develop economic exchanges, and utilize the commercial and
economic capacities of both nations.
They also highlighted the outcomes of the business forum held in
Algeria on 11 June 2024, attended by entrepreneurs and companies from both
countries. Additionally, they noted Oman’s selection as the guest of honor at
the 56th Algiers International Fair (23-28 June 2025) and Algeria’s
participation as the guest of honor at the seventh Oman AgroFood exhibition (1-3
December 2025).
The two sides welcomed the signing of memoranda of understanding
and executive programs in justice, legal affairs, investment, agriculture,
fisheries, pharmaceuticals, energy, mining, labour, and employment.
The leaders praised the deep historical and cultural ties
between the two peoples, as well as the significant role played by the Algerian
community in Oman in strengthening bilateral relations.
On regional and international matters, the two leaders exchanged
views on current developments, emphasizing their commitment to coordinating
their positions in line with their foreign policy principles and the interests
of the Arab and Islamic nations. They stressed the importance of enhancing
regional and global security and stability.
Regarding the Arab world, they underscored the need for
continued coordination with Arab brothers—bilaterally and within the Arab
League—to strengthen joint Arab action and address multifaceted threats and
challenges.
The two leaders addressed the tragic situation in Palestine,
strongly condemning Israel’s genocidal war and scorched-earth policy in Gaza,
which has caused unprecedented humanitarian disasters and the destruction of
vital infrastructure, including hospitals, schools, and places of worship. They
called on the international community, particularly the UN Security Council, to
fulfill its responsibilities by demanding an immediate ceasefire in Gaza and
working toward a comprehensive and just resolution to the Palestinian issue
based on relevant international resolutions and the two-state solution—ensuring
the Palestinian people’s right to an independent state along the 1967 borders
with Jerusalem as its capital.
The Omani side commended Algeria’s relentless efforts in
defending the Palestinian cause at the UN Security Council as the Arab
representative.
The Algerian side praised Oman’s constructive role in mediating
between the U.S. and Iran, applauding Omani diplomacy’s approach to resolving
disputes through peaceful dialogue and wisdom.
At the end of the visit, His Majesty Sultan Haitham bin Tarik
expressed his gratitude for the warm hospitality extended to him and his delegation.
He wished his President Tebboune good health and well-being, and Algeria
further progress and prosperity.”
— Ends/AH
