Algerian President Abdelmadjid Tebboune announced on Thursday the cancellation of all interests on Algeria's debts to Cuba and the postponement of their payment.

Following his meeting with his Cuban counterpart Miguel Diaz-Canel, President Tebboune said in a press conference that the step came to alleviate the situation and the economic pressure that Cuba is suffering from, in addition to the decision to resupply Cuba with energy and launch projects in various sectors.

The Algerian president stressed the good relations between Algeria and Cuba, which made the Cuban president's visit an opportunity to resume and strengthen relations again.

"Algeria feels a duty towards the sister Republic of Cuba," Tebboune said, adding that Algeria has distinguished historical relations with Cuba.

"We agreed to produce medicines together, especially serums and vaccines related to African and non-African diseases," the Algerian president added.

Tebboune also announced that Cuba will be gifted a solar power plant and that it will resume its supply of fuel to reactivate power stations and end frequent outages.

On another note, the Algerian president revealed a meeting of the mixed committee between the two countries at the beginning of the coming year, where about 150 Algerian investors will accompany the Algerian committee to discuss ways to enhance cooperation and investment between the two countries.

Cuban President: We have achieved a historic cooperation

In turn, the Cuban president said, "Cooperation between Cuba and Algeria is being strongly strengthened and is an exemplary one," adding, "We have achieved historic cooperation in health over 60 years and in 10 Algerian states."

"We have good relations with Algeria at the political and international levels, and our international positions match," he noted.

"We salute the deep Algerian understanding of the economic situation in Cuba and thank them for the historical support," Diaz-Canel said.

The Cuban president indicated his country's readiness for "deep cooperation in the fields of culture and exchange of scientific expertise," and added, "We are ready to cooperate in the development of the sugar industry with Algeria and benefit from Algerian dates."

The Cuban President's business and friendship visit to Algeria coincides with the two countries' commemoration of the 60th anniversary of their historical diplomatic relations, which actually began before Algeria's independence and continued by supporting the just causes of peoples and their right to liberation, especially the Palestinian cause, as embodied through solidarity, cooperation and coordination of diplomatic positions in various international forums.

Read: Cuba reiterates its support for Palestinian cause, denounces Israeli attacks

Relations between the two countries achieved several gains, the latest of which was the set up of the Algerian-Cuba Parliamentary Friendship Group last February, to be an opportunity to launch a new era of bilateral cooperation and enhance exchange in all fields, including parliamentary and economic, in a way reflecting the close relations between the two countries and peoples.