In May 2010 when Sultan Bin Saeed Al Mansoori, the UAE Minister of Economy, led a delegation to Algeria. A joint statement and Memorandum of Understanding was signed with the Algerian Minister for Finance, Karim Joudi.
During the visit, Al Mansoori met with Algerian Prime MinisterAhmed Ouyahia and talks were made over strengthening bilateral trade relations as well as extending cooperation in the areas of higher education, environment, finance, customs energy, telecommunications and industry. Ouyahia considers the UAE as a gateway to the Middle East for Algeria and a "strategic hub."
There is also a UAE- Algeria Business Council, which aims to encourage bilateral trade and boost investments between both countries. In the energy sector, both sides have discussed the potential for partnerships in oil exploration and studying the possibility of forming common projects in the field of renewable energy.