Russia and Algeria have agreed to open investment bureaus, the Russian energy minister said.
"The intergovernmental commission decided to open the Algerian investment bureau in Russia and the Russian investment bureau in Algeria," Sergei Shmatko said in the Algerian capital late on Wednesday.
The bureaus will support Russian companies set to work in Algeria and vice versa.
Shmatko was speaking at the first Russian-Algerian business forum underway in the North African country in connection with Wednesday's visit by Russian President Dmitry Medvedev.
Earlier it was reported that Russia is to start deliveries of Sukhoi Su-30 Flanker-C miltirole fighters and Yakovlev Yak-130 Mitten jet trainer/light attack aircraft to Algeria next year. In all, the deliveries are to be worth some $1 billion.
Algeria is among Russia's three biggest trade partners on the African continent. Bilateral trade in the first half of 2010 grew 154.2% to $752.5 million year-on-year.
Cooperation between Russian energy giant Gazprom and Algeria's energy company Sonatrach is also important, taking into consideration considerable natural gas reserves in Algeria.
One of large projects that could be implemented by rail monopoly Russian Railways in Algeria is the construction of railroads linking the capital Algiers with its suburbs, as well as the development of infrastructure.
ALGIERS, October 7 (RIA Novosti)
