Algeria to reassess deal with EU on free-trade agreement
Algerian government has disclosed plan to reassess a deal with the European Union, ahead of a free trade agreement due to come into effect on September 1.
This was disclosed on Tuesday August 11, 2020, by the Algerian President, Abdelmadjid Tebboune.
Tebboune directed the Trade Minister, Kamel Rezig, to “carry out an assessment of the dossier of the association agreement with the EU, which must be the subject of special attention, asserting our interests for balanced relations.”
Political and business leaders have heavily criticized the proposed full implementation of the free trade zone, viewing the deal as being largely to the detriment of Algeria.
Algeria and the EU created a free trade zone on 1 September 2005.
The deal set a 12-year transitional period for Algeria to phase out its tariffs, including on industrial products.
The period was extended until 2020 for certain products such as steel, textiles, electronics, and vehicles.
Algeria has repeatedly asked to renegotiate the terms of the agreement, which turned out to be inadequate to the country.