Brussels, 28/09/2015 (Agence Europe) - The Algerians are tallying up their trade with the EU and are concerned about the negative evolution for their country as regards the imbalance of trade. An impact assessment of the current association agreement by the Algerian national agency for the promotion of foreign trade (Algex) has produced some significant figures, as reported by Algeria's news agency APS.
According to APS, the association agreement “has bled Algeria. Over ten years, the countries of the EU have hit the jackpot in their trade with Algeria: nearly $200 billion”.
Algeria exports very little and imports much from the eurozone, Algiers states, noting the scale of the deficit with concern. The Algex document says that “the EU has exported the equivalent of $195 billion to Algeria in ten years and has only imported $12.3 billion (…) Algerian exports have only recorded a slight increase over ten years, rising from €597 million in 2005 to €2.3 billion in 2014”. In reality, Algeria does not have an enormous amount to sell: “the nature of the products exported to Europe has not changed much. These are primarily derivatives of hydrocarbons. This is already a failure for Algeria - which has set the promotion of non-hydrocarbon-related products as an objective in moving towards this free trade agreement”.
According to APS, there is need for “an in-depth analysis” to create “a coherent and rigorous approach” in order to make this agreement evolve towards a dynamic agreement reflecting the objectives of the national economic policy. The Algex figures reportedly “herald enormous losses for the Algerian economy once the trade barriers have been totally removal” - an eventuality for which Algeria has already delayed the deadline. (Original version in French by Fathi B'Chir)