Published by Global Banking and Finance Review
Posted on July 23, 2025
By Angelo Amante
ROME (Reuters) -Italy and Algeria agreed to work together to fight terrorism and control migration during an intergovernmental meeting in Rome on Wednesday, while companies signed off on deals in sectors including energy and telecommunications.
Italian Prime Minister Giorgia Meloni met Algerian President Abdelmadjid Tebboune at the 17th-century Villa Doria Pamphili, after a trip to Algiers by Foreign Minister Antonio Tajani in March.
"Our bilateral relations have reached a level of intensity and solidity that had never been achieved before," Meloni told a news conference after the meeting.
Algeria is Rome's leading trading partner in Africa, with trade worth almost 14 billion euros ($16.4 billion) while Italian investments there amount to 8.5 billion euros, Meloni's government said.
"I express my confidence in what we have achieved at this summit. The agreements signed open broad horizons for a model strategic partnership that reflects the depth of our relations," Algerian President Tebboune said.
A total of 13 agreements have been signed between the governments of Italy and Algeria, including one on fighting terrorism and its financing. It was not specified which threats the countries were focused on.
The two nations have also agreed on a plan to coordinate the search and rescue operations for migrants who attempt the dangerous sea crossing from North Africa to Europe. Meloni's right-wing government was elected in 2022 on a mandate to curb migrant arrivals.
BUSINESS TIES
On the business side, Italian energy group Eni this month signed a production sharing contract with oil and gas company Sonatrach worth $1.3 billion to explore and develop hydrocarbons in Algeria.
On the sidelines of the meeting, the two companies signed an additional agreement to strengthen their cooperation.
"We are very satisfied with the collaboration between Eni and its counterpart Sonatrach, which will become even stronger," Meloni told reporters.
Eni buys gas from Sonatrach under a long-term contract that has made the north African country one of the key fuel suppliers for Italy after Rome severed ties with Russia's Gazprom following Moscow's invasion of Ukraine.
A separate deal will involve Submarine cable company Sparkle, a unit of Telecom Italia (TIM), which is set to be sold to a consortium led by Italy's Treasury later this year.
Sparkle will sign a preliminary agreement with Algerie Telecom for a new subsea cable connecting the two countries.
"Algeria is a strategic partner, and we are working hard to make this partnership ever broader, stronger and more diversified," Foreign Minister Tajani said during a speech at a business forum with over 400 companies from the two nations.
($1 = 0.8521 euros)
(Reporting by Angelo Amante; Additional reporting by Tarek Amara; Editing by Toby Chopra and Keith Weir)
