Algerian President Abdelmadjid Tebboune expressed his expectations for the development of relations with Russia across various sectors, including agriculture, industry and culture during a three-day visit to Russia on June 15.

During a meeting with Russian Prime Minister Mikhail Mishustin, President Tebboune highlighted the historical relations between the two countries, emphasising their mutual understanding and the need to intensify their ties.

The level of mutual trade between Russia and Algeria does not correspond to the potential of the two countries, Mishustin said at the meeting with Tebboune.

The two countries are intensively developing trade and economic co-operation, Mishustin noted. "Contrary to illegal sanctions introduced against Russia, the mutual trade volume soared by 65% and was over RUB5bn ($59.4mn)," the Russian prime minister said. "Despite the positive dynamics of mutual trade, its indicators do not correspond to the high potential of economies of our countries. I am confident we will be able to increase them many-fold by joint efforts," he added.

"We have historical relations, which cannot change even in the event of global environment changing. … Everybody knows that Algeria is not a power like Russia in the economic area, though we are seeking to become a power on the African continent. And we have already started regaining our economic strength," Tebboune said at a meeting with Mishustin.

Algeria is urging Russian companies to increase investment in the country, Algeria's Minister of Energy and Mines Mohamed Arkab said at the Russian-Algerian business forum on Wednesday, 14 June.

"Investment in Algeria by Russian companies still does not meet the required level. The level of wants and needs does not reflect the force of our relations," he said. "In this respect we urge Russian companies to fortify and intensify their investments in Algeria," the minister noted.

The republic is also interested in strengthening and developing relations with Russia for finding new possibilities in geological exploration, production of energy and other areas, he added.

Russia and Algeria intend to exchange information via their intelligence services, including that concerning threats to national security. The two leaders were also due to sign a multilateral document that would help prevent an arms race in space.

Russian President Vladimir Putin said that 2023 is a special year for the development of Russia's relations with African countries.

"This year can indeed be described as a special year for the development of Russia's relations with the African continent. Our contacts with African countries are more intense than ever," the Russian president said after talks with Tebboune. According to the Russian leader, the Algerian president's visit to Moscow proves this.

While acknowledging that Algeria is not as economically powerful as Russia, Tebboune stated that his country aims to become a major force in Africa and is already regaining its economic strength.

Putin said that co-operation between Russia and Algeria is now "truly multi-dimensional" and has considerable potential for further development.

"Following the talks, we will sign a declaration on deepening the strategic partnership between Russia and Algeria, which will mark the beginning of a new, even more advanced stage of our bilateral relations," he added.

Putin announced the signing of a declaration on deepening the strategic partnership between the two countries, which he believes will mark the beginning of an advanced stage in bilateral relations.

He added that Algeria is one of the three leading trade partners of Russia on the African continent. Speaking about the Russia-Algeria Business Forum, Putin said that he hoped that the interest of both sides in such events "will only grow."

"The relationship with Algeria plays a special role for our country and is of strategic importance," the Russian leader said, adding that the relations date back to the mid-1950s, since when they have been "strategic, without any exaggeration."

Putin described as "very warm" the relationship between the Russian people and what he said was "the heroic and very courageous nation of Algeria, which had fought for its independence for years and won." Last year marked the 60th anniversary of the establishment of diplomatic relations between Moscow and Algiers.

"The Soviet Union provided major support to its Algerian friends in the war for independence, and in the initial period of Algeria’s independence, it contributed to making Algeria an independent and sovereign state while helping its economy to develop across a number of fields," the Russian president said as cited by Tass.

The signed declaration of deepened strategic partnership between Russia and Algeria includes provisions for developing direct contacts between the countries' banks and promoting the use of national currencies in payments.

Energy ties are also a key focus, with President Putin highlighting the high level of co-ordination between Russia and Algeria within multilateral formats and organisations. Their joint efforts within OPEC+ and the Gas Exporting Countries Forum (GECF) contribute to the stabilisation of global energy markets.

Moscow appreciates Algeria’s willingness to mediate in resolving the Ukraine issue, Putin said.

"Since Algeria is a member of the Arab League’s contact group on Ukraine, I, for my part, outlined my vision of the root causes of the conflict and my assessment of the current situation," Putin said, adding that he and Tebboune "had a thorough conversation" on the issue.

"We are grateful to Algeria and the Algerian president for their willingness to offer mediation services," Putin added.

Moscow welcomes Algeria’s interest in expanding cooperation with the Eurasian Economic Union (EEU), Mishustin said at a meeting with Algerian President Abdelmadjid Tebboune.

"It is important that Russia’s and Algeria’s approaches on the international agenda are close and coincide. We are leading producers of energy resources and seek to create stable conditions for working on the global market. This fully meets the long-term interest of both suppliers and consumers of hydrocarbons," PM said at the beginning of the meeting.

"We welcome Algeria’s interest in expanding cooperation with the Eurasian Economic Union … I am confident that all countries of the Union will welcome the development of cooperation with Algeria on a wide range of areas," he noted.

Russian Economic Development Minister Maxim Reshetnikov said earlier on Wednesday that Moscow was considering the possibility of signing a free trade agreement with Algeria. The two countries can co-operate in such areas as industry, energy, banks, geology and subsoil use, transport and logistics, he added.