Russia and Algeria signed Thursday several agreements bolstering their bilateral ties, including a convention on mutual extradition and an agreement on cooperating in the field of exploration and use of outer space for peaceful purposes.

Russian President Vladimir Putin and Algerian President Abdelmadjid Tebboune also signed a declaration on enhancing the strategic partnership between the countries following their meeting in Moscow.

In the wake of his talks with Tebboune, Putin described Algeria as a "key partner" in the Arab World and Africa.

"Russian-Algerian relations are truly constructive and mutually beneficial, based on respect and consideration of each other's interests, and continue to develop steadily in the spirit of friendship and mutual support," Putin said.

Read more: Algeria will be holding anti-terrorist drills with Russia

The talks, according to the Russian leader, were productive and professional, with Putin and Tebboune signing numerous interstate, intergovernmental, and interdepartmental documents aimed at further strengthening bilateral ties.

Declaration on enhancing strategic partnership

The two heads of state signed on Thursday a declaration on enhancing the strategic partnership between the countries.

Putin said ties with Algeria are of particular importance for Russia and are of a strategic nature.

The adoption of the declaration will mark the beginning of a new phase in bilateral relations, Putin said.

Rosatom ready to participate in Algerian projects

Putin underlined that the Russian state nuclear agency Rosatom was ready to partake in joint projects in Algeria, including non-nuclear projects.

"We know that Algeria is showing interest in the development of national nuclear energy," Putin underlined.

"The Rosatom corporation, which has unique experience and competencies that have no analogs in the world, is ready to participate in joint projects, including those related to the non-power application of nuclear technologies, for example, in the field of medicine or agriculture," he underlined.

Moreover, the Russian head of state thanked his Algerian counterpart for his willingness to mediate the ongoing Ukraine war.

"We are grateful to Algeria and the president of Algeria for their willingness to provide some mediation services," Putin said.

"Among the regional issues, we talked about the situation in Libya, Sudan, Western Sahara, as well as the Palestinian-Israeli settlement," he added.

"As regards economic cooperation, Algeria has always been one of Russia's key trade partners in Africa for many years. Suffice it to say that increase in trade for the first quarter of this year was over 73%, with mutual agricultural trade doubling," Putin said.

Read next: Algeria's Tebboune embarks on 3-day partnership trip to Russia

Moreover, the Russian president said he explained to Tebboune the Russian understanding of the key reasons for the Ukraine war and gave him an assessment of the current situation.

Settlements in national currencies

Russia and Algeria need to work more intensively to settle debts and payments in national currencies, Putin underlined, explaining that this action would secure the economies of both states.

"Of course, it is important to work together to expand the practice of settlements between our countries in national currencies, which will make it possible to secure countertrade from the influence of third countries and the negative situation in the world currency markets," he said.

Algeria and Russia have maintained close affinity over the years. Bilateral relations between the two countries have been developing consistently. Algeria is among Russia’s three major trade partners in the African continent.

Algeria abstained from voting on the UN Resolution condemning Russia's special military operation in Ukraine. 

In early November, Algeria submitted an official application to join the BRICS, the Al-Shorouk newspaper reported, citing Leila Zaruki, the Algerian Foreign Ministry's special envoy for the international partnership.

The step would help Algeria boost its economic ties with the group's members as the country could develop its cooperation with other countries in areas such as mineral, gas, and water resources, among other things.

Read next: Algeria: Tebboune's visit to Moscow to mark start of new stage in ties