Brussels, 21/10/2013 (Agence Europe) - Algeria is reiterating that it would like to hold a second round of negotiations with the World Trade Organisation (WTO) before December. It believes that the European Union looks positively on its case for WTO membership.
Algeria's Trade Minister Mustapha Benbada said on Saturday 19 October that his country had “addressed all the issues of the first round of the negotiations”, which took place on 5 April. “We wanted the second round to be held before the ministerial conference in Bali on 3 December”, he said.
In his statements to the news agency APS, Benbada said: “We have made progress, but there is the issue of the 51/49 rule which needs to be resolved with a midway position that suits both parties, while keeping our sovereign position on foreign investment in Algeria”.
According to this rule, the majority of a company's capital must be held by an Algerian investor. This legal arrangement, which is also being discussed with the EU, does not seem to be a problem in itself, in Benbada's view. It is “the fact that it is general and cross-sectional”, that seems to be called into question. “We have made significant efforts, which those in charge at the WTO can see”, he said.
Benbada gave assurances that in September the EU had “recognised that Algeria took its case for WTO membership very seriously”. (FB/transl.fl)