ALGIERS, Algeria, Oct. 7 (UPI) -- Russia and Algeria have agreed to set up complementary investment bureaus in each country, Russia's Minister of Energy Sergei Shmatko said.
"The intergovernmental commission decided to open the Algerian investment bureau in Russia and the Russian investment bureau in Algeria," Shmatko said during a visit to Algerian capital, Algiers, RIA Novosti reported Thursday.
Each bureau would assist businesses from their own country when doing business abroad.
Shmatko made his announcement after Russia said Algeria had purchased about $1 billion in military equipment from Russia, including Sukhoi Su-30 Flanker-C fighters and Yakovley Yak-130 Mitten light-duty attack aircraft.
In the future, it is expected Algeria will turn to Russia for help constructing railroads connecting the hub of Algiers to outlying areas.
UPI
