APS : Sunday, 01 January 2017
ALGIERS- To cope with the crisis, the public authorities refocused the efforts in 2016 on foreign trade in a bid to regulate imports and diversify exports.
Since early 2016, trade sector was marked by the introduction of import licences, a measure decided to reduce the import invoice and to boost domestic production in a difficult economic context due to decline in revenues caused by plummeting oil priced.
As a result of this regulation, which concerned, in the first phase, cars and cement, Algeria has been able to save $6 billion compared to 2014, when imports of these three products had peaked.
In total, 225 import licences were issued by the inter-ministerial commission in 2016, including 40 licences for car import.
Diversifying exports has also been at the centre of the Government’s concerns, while non-hydrocarbon exports do not exceed 3% of total exports, with the majority of these non-hydrocarbon sales being petroleum derivatives.
The desire to promote exports, which has become a priority, has resulted in the setting up of a committee to monitor export operations and take care of the constraints encountered by exporters.
Moreover, a think tank was created by the Prime Minister to examine the proposals and the recommendations resulting from this unit.