Brussels 16/06/2014 (Agence Europe) - The EU is to lend its support to a debate in Algeria on the theme of the “Emergence of the non-hydrocarbon economy” as part of a specific conference to be held in Algiers on 23 June. The organiser is CARE (Cercle d'Action et de Réflexion autour de l'Entreprise).
On 3 June, the EU and this organisation signed a memorandum of understanding to cover actions aiming to clarify the economic debate with this country, which is gradually opening up to cooperation with Europe.
The memorandum of understanding will provide CARE with “logistical and technical support for the organisation of events, the execution of studies and publishing of articles on subjects of common interest”. In addition, “EU experts will take part in rounds of conferences scheduled and thematic and/or sectoral focuses to be carried out during the period in question”.
The Algerian economy is more than 97% reliant on the trade in hydrocarbons. There is considerable potential for non-hydrocarbon activities, subject to greater depth of economic and legislative reforms.
The EU's action aims to feed into the objective of a transformation to come out of the “rentier economy” which characterises Algeria and is hindering the ambitions stated by the government and by the business sector represented by CARE. “With a consensus in place on the need for the emergence of a non-hydrocarbon economy and to reduce the state budget's dependence on tax revenue from petroleum, CARE is launching a reflection on the challenges to be faced by our tax system, and the steps which will allow us to meet these challenges”, the organisation writes, ahead of the conference of 23 June.
On 3 June, CARE held another conference on the theme of “Financing of the economy: The Role of Institutional”, also with the support of the EU. (FB)