Algeria, EU reaffirm commitment to deepen relations for “common space of stability”

May 15th, 2018

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APS : MONDAY 14 MAY 2018

BRUSSELS- Algeria and the European Union (EU) have reaffirmed Monday in Brussels their “attachment” to implement the shared priorities of partnership and the conclusions of the joint assessment of the Association Agreement.
The two parties also renewed commitment to deepen their relations, in a view to “building a common space of stability, democracy and shard prosperity.”
In a joint declaration published following the 11th session of their Association Council, Algeria and the European Union underlined the “importance of the role of the civil society and the participatory democracy,” voicing their keen interest for “sharing the experience” in these fields.
The EU has welcomed, in this regard, “the path of reforms” initiated by Algeria, following the 2016 Constitutional Revision and also stressed that the Algeria-EU partnership is based on “shared principles of democracy.”
Algeria and the EU are also committed to strengthening cooperation in terms of the Algerian economy diversification,” particularly after the fall in oil prices since 2014″.
Besides, the two parties hailed the adoption of a unique support framework, which defines the priorities of the technical and financial cooperation for the period 2018-2020, in which the “support to diversified economy takes lion’s share.”
During the Association Council, an agreement on the financing of the Agriculture Support Programme (PASA) which aims at boosting some strategic crops for food security in Algeria has been signed.
On that occasion, Algeria and the EU have reaffirmed their willingness that “all the trade-relating measures are taken in accordance with the Association Agreement,” underlining that this agreement “encompasses mechanisms that take into account the economic difficulties encountered by one of the two parties.”
“The bilateral talks engaged in this matter are planned to be possibly finalized, before the end of the year,” said the joint declaration.
In this context, the two sides recalled the importance of a business climate conducive to entrepreneurship and investment and the direct investments as a means to strengthening their long-term relationship and strategic partnership as well.”