Brussels, 27/03/2015 (Agence Europe) - In Algiers on Monday 23 March, the European Union and Algeria presented an assessment of their four year cooperation (since January 2011) as part of the DIVECO programme to diversify the Algerian economy. The programme has been allocated €20 million, including €17.5 million in European contributions.
A press release stated that during the public presentation at the head office of the National Agronomic Research Institute of Algeria (INRAA), the EU “hailed the work achieved” which enabled a contribution to be made “to strengthening the agriculture, agri-food and tourism sectors - key sectors as regards the diversification of the Algerian economy”.
According to official figures, the hydrocarbons sector has on average counted for 50% of GDP over the last five years and, as regards external trade, the imbalance is more significant still as oil and gas represent 97% of export revenue.
“Over the last decade, the diversification of the national economy has become a major strategic objective”. “The very strong dependence as regards the international hydrocarbon market is a permanent risk both for the pace and for the sustainability of economic growth”, says the director of the DIVECO programme, Fouad Chehat.
The EU is encouraging Algeria “to capitalise on the achievements of the programme” and “reaffirms its commitment to this challenge which is the focus of the association agreement and one of the pillars of the EU-Algeria strategic cooperation framework” for the 2014-2017 period. (Fathi B'Chir)