Six months after Algeria cut ties with Spain following the dispute over Western Sahara, trade between the two countries remains paralyzed, much to the dismay of the worst-hit companies.
Algerian Foreign Minister Ramtane Lamamra and the Chairman of the National Development and Reform Commission of China, He Lifen, signed on Monday two agreements to increase bilateral cooperation between the two countries.
A group of influential members of the European Parliament (MEPs) urged the head of the European Commission to review the association agreement with Algeria, a country that is about to pump 17 billion dollars into Russian coffers in arms deals that would give Moscow a financial boost.
Possible areas of cooperation between the two countries include a double taxation agreement and a bilateral investment treaty.
The visit was thus a telling declaration of intentions from both the Tunisian and Algerian regimes, who have ever since appeared to be striving to deepen bilateral ties to form a Maghrebi bloc to undermine Morocco’s strategic interests.
After almost two months, Algeria has ended trade restrictions with Spain. This decision eases the current crisis between Algiers and Madrid, triggered by Spain’s turnaround on the Sahara.
The Tunisian Union of Industry, Trade and Handicrafts (UTICA) is campaigning for the signing of a free trade and free movement agreement between Tunisia and Algeria.
EU Foreign policy Chief Josep Borrell and Executive Vice-Pdt of European Commission, Valdis Dombrovskis, have voiced concern over Algeria’s unilateral decision to suspend the friendship treaty with Spain
Tensions between Morocco and Algeria have risen lately, and there is now a heightened risk of armed conflict arising and the escalation is rooted in the dispute over the status of Western Sahara.
Algerian Foreign Affairs Minister Ramtane Lamamra’s announcement on 24 August of a new break in diplomatic relations with Morocco is another setback for free trade and free movement on the continent.
Algeria has asked the EU to put on hold a free trade agreement that was due to be signed this year as it drags its feet on customs reforms, an EU official said.
Days ahead of a final deadline, activation of a long-planned Algeria-EU trade deal risks unravelling as political and business leaders in the North African country warn it will undermine economic sovereignty.
Bangladesh and Algeria had agreed to ink an agreement to increase bilateral trade and economic cooperation, Commerce Minister Tipu Munshi said.
Algeria’s president has requested the country’s trade minister reassess a deal with the EU, ahead of a free trade agreement due to come into effect on 1 September.
Spanish contractor Ortiz Construcciones y Proyectos S.A. lost an investment treaty arbitration against Algeria brought before ICSID.
The Algeria-European trade deal opened the Algerian market to EU imports but hurt local farming and manufacturing sectors, Algerian government leaders said.
Algerian Minister of Trade Kamel Rezig announced a joint initiative with Libya to establish a free trade area.
Indonesia and Algeria have made a commitment to increase bilateral trade and investment.
Algeria and China have signed a memorandum of understanding on Beijing’s Belt and Road Initiative.
Le forum offre l’opportunité aux deux pays de réaffirmer leur liens dans le domaine du commerce et de l’investissement.