Algerian Foreign Minister Ramtane Lamamra announced Friday that preparations are underway for President Abdelmadjid Tebboune's visit to Russia, noting that the Algerian side hopes the visit will take place before the end of this year.

"Algeria and Russia are important partners for each other," Lamamra stressed in a press statement on the sidelines of the Paris Peace Forum.

"We maintain a high-quality political dialogue and we hope that the visit of President Abdelmadjid Tebboune to Russia will mark the beginning of a new stage in our relations," Lamamra said.

Earlier in May, Russian Foreign Minister Sergey Lavrov said that Moscow and Algeria plan to sign an agreement confirming a "new quality" of bilateral relations between the two sides.

Russian Deputy Foreign Minister Mikhail Bogdanov announced on Tuesday that Russia welcomes Algeria's desire to join the BRICS economic bloc.

The Algerian Foreign Ministry's special envoy for international partnership Leila Zaruki told Al-Shorouk newspaper that  Algeria formally applied on Monday to join the economic association.

Following the application submission, Algerian President Abdelmadjid Tebboune is expected to inform Moscow of a suitable schedule to pay a visit and meet with Russian President Vladimir Putin.

The Russian minister indicated that given "the rapidly developing friendly ties" between Russia and Algeria, the two countries plan to sign "a new inter-state strategic document, which will reflect the new quality of our relations."

It is worth mentioning that Russian President Vladimir Putin said in 2020 that he hoped Tebboune would visit Russia. 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.

After the United States, Russia, Iran, and Canada, Algeria is the world's fifth-largest gas producer. With an average of 982,000 barrels of oil produced daily as of February, the courtly is also among the top-20 crude oil producers. Sonatrach, Algeria's state-owned oil firm, produces, refines, transports, and sells petroleum products. It is the largest company not only in Algeria but also on the African continent.

Algeria is currently being explored by the European Union as a potential gas supplier alternative to Russia.