The European Union is Algeria`s main economic partner and Algerian leaders have considered upgrading an association agreement signed in 2005, which would make Algeria a free trade area for the European bloc. Algeria has been a party to a trade agreement with the European Union since 2005, which has been extended to a free trade agreement. But government leaders said they were frustrated by what they described as “unbalanced conditions”. You said that the agreement opens the Algerian market to EU imports, but that it harms local agriculture and manufacturing. Algeria has asked the EU to freeze a free trade agreement that was to be signed this year, while it deals with customs reforms, an EU official said. The EU and Algeria meet regularly in committees to discuss issues and best practices in the implementation of the agreement. Algeria is weighing its losses on a trade deal with the European Union, while its government plans to deepen relations with Africa in order to get the country out of its economic slump. On 1 September 2005, Algeria and the EU established a free trade area under an Association Agreement that governs economic, social, cultural and judicial cooperation. According to Ali Bey Nasri, president of the National Federation of Exporters, Algeria imported €240 billion worth of goods from the EU between 2005 and 2017, while exports, mainly of petroleum-based products, reached only €10 billion. “The free trade agreement signed in 2017, which will enter into force in September 2020, will be a disaster for the national economy,” said Ali Bey Nasri, president of the Federation of Algerian Exporters. He said Algerian imports from the European Union had amounted to $283 billion since 2005, but exports amounted to $12 billion, mainly in petroleum products.
President Abdelmadjid Tebboune asked Kamel Rezig to “carry out an evaluation. The issue of the association agreement with the EU, which must be the subject of special attention to assert our interests in terms of balanced relations,” said an official statement issued late Sunday, August 9 Analysts said that Algeria signed the agreement while isolated while waging a war against the jihadists, which left 200,000 dead. Since then, you have said that bureaucracy, corruption and the central command of the economy have prevented Algeria from diversifying its economy and taking full advantage of the Europe Agreement. Algiers has repeatedly asked to renegotiate the terms of the agreement. The Algerian president has asked the country`s trade minister to reassess an agreement with the EU before a free trade agreement that is due to enter into force on 1 September. Algeria is engaged in the process of accession to the WTO, with the support of the European Union. The Algerian working group was established on 17 June 1987. The group met for the twelfth time in March 2014. Political and economic leaders have sharply criticized the proposal for the full implementation of the free trade area and considered it largely detrimental to Algeria. It all happened as a result of complaints in the Algerian media from economic actors and politicians who criticized the deal as harmful to the Algerian economy.
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