June 2, 2014. The Director-General of Uralvagonzavod Scientific & Production Corporation Oleg Sienko paid a two-day visit to Algeria in the capacity of Chairman of the Russian Section of the Russian-Algerian Business Council; he also took part in the Council's meeting involving both the Russian and the Algerian parties.

In his speech, Sienko stressed the importance of the Council's efficiency in the development of fruitful cooperation between both countries.

'The Russian-Algerian Business Council was set up in March 2006 and has proved an efficient mechanism that promotes and strengthens bilateral cooperation between our two partner states. The Council's Secretariat, which I am honored to chair since October 2012, makes every effort to boost the bilateral cooperation within existing formats and mechanisms of our bilateral partnership,' the corporation's head said.

Oleg Sienko also suggested establishing a Russian-Algerian investment fund for implementation of joint projects.