2010.01.25Algeria will suspend the importation of a thousand products in the Arab Free Trade

Tunisian exports to Algeria in the market, this interests you. What meaning the Algerian authorities they give to the Free Trade-Arab when she joined just last year? This question naturally when one learns that the Algerian Ministry of Commerce aa compiled a list of 1141 products from the Arab free trade to be suspended imports on the Algerian market in the next 4 years, a list that according to local media, will be presented at the Economic and Social Council of the Arab League to be held next February. These products belong to agriculture, textiles, paper and appliances.

According to the website www.econostrum.com, Algerian imports from debt zone area amounted to 945 million euros during the first ten months 2009 against 724.2 million euros in 2008. Exports to countries in this area have, cons, decreased, or 717.7 thousand euros during the first ten months 2009 against 1.5 million for the same period in 2008.

We can say that this provision is part of the new Algerian law requiring any foreign investor to have as a national resident shareholder holds 51% stake. Some saw this as a mandatory provision, hampering foreign investment in Algeria, like some of Tunisian companies have suspended their plans for expansion. The law states, on the other hand, the introduction of documentary credit that has become routine for all imports in excess of 1,000 euros. Criticized in Algeria and in exporting countries, this represents a premium credit to firms and banks, estimated at around 300 euros for a transaction exceeding 50,000 euros, said the source.
Source: webmanagercenter

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