Algiers: His Majesty Sultan Haitham bin Tarik and President Abdelmadjid Tebboune of the People’s Democratic Republic of Algeria have welcomed the creation of the “Algerian-Omani Investment Fund” designed to facilitate joint investments between the two nations. The fund aims to enhance the volume of investments and ensure diversification and expansion across all sectors.

According to Oman News Agency, this announcement was part of a joint communiqu© issued during the state visit of His Majesty Sultan Haitham bin Tarik to Algeria on 4-5 May 2025. The visit was at the invitation of President Tebboune and was marked by a high-ranking delegation accompanying the Sultan.

The communiqu© detailed President Tebboune’s warm welcome to Sultan Haitham, emphasizing the strong fraternal relations and cooperation between the Algerian and Omani peoples. His Majesty expressed his gratitude for the reception and highlighted the historical and cultural bonds shared by the two nations.

The leaders engaged in extensive discussions on bilateral relations and explored ways to strengthen them across various fields. They also reviewed regional and international issues of mutual interest. The discussions included an expanded meeting between the two delegations, where both sides praised recent progress in bilateral relations, particularly following President Tebboune’s visit to Muscat in October 2024 and the Joint Committee session in June 2024.

Both leaders reaffirmed their commitment to enhancing cooperation and partnership, leveraging the potential of both countries. They encouraged joint public and private sector investment projects, citing the successful $2.4 billion partnership in the Arzew industrial zone. Ongoing discussions in automotive manufacturing, energy, and other sectors were also noted, with an emphasis on their swift implementation.

The leaders highlighted efforts to boost trade and economic exchanges, referencing the outcomes of a business forum in June 2024 and upcoming international fairs where each country will be the guest of honor.

Additionally, the signing of memoranda of understanding in various sectors was acknowledged as a step forward in bilateral cooperation. The leaders also recognized the significant role of the Algerian community in Oman in strengthening ties.

On regional matters, both leaders exchanged views on current developments, emphasizing their commitment to regional and global security. They stressed the importance of coordination within the Arab League to address challenges and threats.

Addressing the Palestinian situation, the leaders condemned Israel’s actions in Gaza and called for an immediate ceasefire and a just resolution based on international resolutions. Algeria’s efforts in defending the Palestinian cause at the UN and Oman’s role in mediating U.S.-Iran relations were commended.

The visit concluded with Sultan Haitham expressing gratitude for the hospitality and wishing President Tebboune and Algeria continued prosperity.