AfCFTA: Significant potential to increase trade between Algeria, Africa

June 3rd, 2019

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APS : Saturday, 01 June 2019

ALGIERS- The African Continental Free Trade Agreement (AfCFTA), which entered into force on Thursday, is for Algeria a significant potential in order to develop and increase its trade with Africa,
said Saturday a top official of Trade Ministry.
In an interview to APS, director general of Foreign Trade Khaled Bouchelaghem said that the integration of the continent in a single trading zone offers “huge opportunities to companies and consumers in Africa, including Algeria, and allows a sustainable development in the continent.”
Through a progressive elimination of customs duties on the intra-African trade, the zone will enable the African companies, including Algerian ones, to negotiate easily on the continent, meet the market’s growing demands and to benefit from the advantages offered by the latter.
However, to take full advantage of AfCFTA, it is essential for each member State to elaborate a national strategy, said the source.
To achieve this purpose, Algeria implemented, with the support of Geneva’s International Trade Centre and in close cooperation with the associations of economic operators, a five-year national export strategy (2019-2023).
This strategy, he added, aims to diversify the economy and Algerian exports to improve business climate.
To contribute to the lack of infrastructures hindering investments, production and competition in the African countries, Algeria committed, he said, to executing structuring regional projects, essential for the facilitation of exchanges notably between Maghreb and sub-Saharan Africa.