The Federal Government of Algeria has announced its decision to open free trade zones with five African countries including Mauritania, Mali, Niger, Tunisia, and Libya.
This was made known by the President of Algeria, Abdelmadjid Tebboune, on Tuesday, according to the Algerian Press Service (APS).
President Tebboune disclosed his intention to create the free trade zones with the five countries during the 41st meeting of the Steering Committee of the Heads of State and Government of the New Partnership for Africa’s Development (NEPAD).
Algeria will begin the initiative with Mauritania, before opening zones with West African countries Mali and Niger Republic, then neighbours Tunisia and Libya in North Africa.
The president stressed Algeria’s commitment to continental integration and economic development and stated the importance of strengthening economic integration processes in Africa.
Algeria officially joined the Guided Trade Initiative in December last year under the African Continental Free Trade Area (AfCFTA).
The World Customs Organisation (WCO) stated in 2021 that inconsistent and obsolete laws and regulations, and resistance to change and lack of transparency in customs administration operations in most African countries are the challenges to the completion of the operational phase of the AfCFTA.
Source link : https://newscentral.africa/algeria-to-open-free-trade-zone-with-mauritania-four-others/
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Publish date : 2024-02-14 08:00:00
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