The EU says it will revise the its Association Agreement with Algeria, pointing out competition from China and enhanced ’security’ interests
M. Mandelson a souligné que l’accord d’association, qui est "une base" de développement des relations bilatérales entre l’Algérie et l’UE, ne fonctionne pas bien actuellement.
Algeria has experienced a rapid increase of imports from, and low exports to, the other side of the Mediterranean after signing the Algeria-European Union (EU) association agreement in September 2005.
This is important for Dutch investors because the Algerian market is attractive for sectors such as energy and agriculture.
The dismantling of customs tariffs on the entry of EU goods under the EU-Algeria association agreement is expected to cause to Algeria a five billion dollar loss in income and 500 000 jobs.
The U.S.-Algeria Business Council is working to bring U.S. investment and trade to Algeria to bolster Algerian President Abdelaziz Bouteflika’s strategic decision to integrate his country into the global economy.
“Our economy is based too much on hydrocarbons. We must diversify our economy. If not, Algeria will become lost in the global marketplace,” Abdelhamid Temmar, chief economic counsel to President Abdelaziz Bouteflila, said last week during meetings with finance and trade leaders in Washington.
An essential feature of the implementation of the Euro-Mediterranean Partnership has been the negotiation of Association Agreements between the European Union and nine of its Mediterranean Partners to replace the 1970s Co-operation Agreements.
Algeria has inked an agreement for improving trade and facilitating commercial exchanges among Arab countries that constitute the basis for the Arab Free Trade Zone
Overview of Bilateral Negotiations 2004 involving Trade Agreements: State of Play 27 July