Muscat: His Majesty Sultan Haitham bin Tarik and President Abdelmadjid Tebboune of the People’s Democratic Republic of Algeria have blessed an initiative to establish a joint Omani-Algerian investment fund through which partnerships and projects will be established in the fields of renewable energy, petrochemicals, desert farming, technology and tourism, among other sectors.
This was unveiled in the joint communiqué on the occasion of the visit of President Abdelmadjid Tebboune of the People's Democratic Republic of Algeria, to the Sultanate of Oman from October 28 to 30, 2024. The communiqué reads as follows:
“In a gesture to strengthen fraternal bonds between the Sultanate of Oman and the People's Democratic Republic of Algeria—at the level of leaderships and peoples—and, in response to an invitation by His Majesty Sultan Haitham bin Tarik, Sultan of Oman, President Abdelmadjid Tebboune of the People's Democratic Republic of Algeria, accompanied by a high-level official delegation, made a three-day State Visit to the Sultanate of Oman from October 28 to 30, 2024.
The two leaders held talks in a spirit of brotherliness, understanding and keenness to press ahead with bilateral cooperation in various fields in a bid to serve the two countries’ interests and manifest their historical bonds. They expressed their satisfaction with recent steps made to upgrade relations, including the 8th session of the Omani-Algerian Joint Committee, held in Algeria in June 2024, as well as the business symposium held on the sidelines of the session that dealt with promising opportunities in the fields of investment and trade.
The two leaders affirmed their support for the outcomes. They gave directives to all parties and sectors concerned to intensify communication, exchange visits and implement all joint initiatives and programmes aimed to generate benefits for the two countries’ peoples. In this context, the two leaders blessed an initiative to establish a joint Omani-Algerian investment fund that will promote partnerships and joint ventures in the fields of renewable energy, petrochemicals, desert farming, technology, tourism and other lucrative sectors.
The two sides stressed the importance of enhancing communication and partnerships at the private sector level, promoting commercial and industrial exchange and make use of the two countries’ markets and locations in easing national exports’ access to regional and global markets.
The two leaders welcomed the signing of eight memoranda of understanding in the fields of investment promotion, exhibitions, conferences, education, higher education, the environment and sustainable development, financial services, employment, training and the media.
In the context of consultation, exchange of views and coordination on current regional and international developments, the two sides stressed the need for the immediate termination of the Israeli aggression on the Palestinian territories, Lebanon, Syria and Iran. They underscored the Palestinian people’s right to end the illegal occupation of their lands and establish their independent Palestinian State, with Al Quds Al Sharqiyah (East Jerusalem) as its capital, based on the Two-State Solution, and get membership to the United Nations.
The two sides underscored the importance of cooperation and coordination between their countries during regional and international organizations and forums in a manner that serves their interests and consolidates the joint Arab action, security, peace and stability in the region and the world at large.
The two sides also voiced their support for the efforts aimed at consolidating peaceful approaches, implementing the rules of international law and respecting international legitimacy and the principles of justice.
The Omani side expressed its appreciation for the efforts made by the People's Democratic Republic of Algeria, being an Arab member in the Security Council, notably Algeria’s support for Arab issues and the cause of justice. It valued Algeria’s constructive role in this regard.
The Algerian side also lauded the Sultanate of Oman’s central role and its peaceful endeavours to ease tensions and promote understanding and positive cooperation among countries in the region and the world.
President Abdelmadjid Tebboune of the People's Democratic Republic of Algeria expressed his thanks and appreciation to His Majesty Sultan Haitham bin Tarik, the government of the Sultanate of Oman and its people for the warm welcome and hospitality accorded to him and his delegation. He wished Oman further progress and prosperity under his wise leadership of His Majesty the Sultan. He also extended an invitation to His Majesty Sultan Haitham bin Tarik to visit the People's Democratic Republic of Algeria. His Majesty thanked the president and accepted the invitation.”
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