Saturday, January 25, 2025, 4:39 PM
Category: Economy
Algiers – Algeria has successfully slashed its import bill for cosmetics, perfumes, and personal care products to $58 million in 2024, a significant decrease from over $500 million previously. This achievement, according to Minister of Domestic Trade and Market Regulation Mr. Tayeb Zitouni, is attributed primarily to the growth of local production in these industries.
Speaking to the press on the sidelines of the third edition of the “Cosmetica” International Cosmetics Fair, which concludes today, the minister noted that “domestic production of these items has reached substantial levels, covering approximately 70% of national demand.” He also highlighted that Algeria has achieved total self-sufficiency in several personal care products.
In addition to reducing imports, local production of cosmetics, perfumes, and personal care products has seen a “quantitative and qualitative leap,” making the sector increasingly competitive on an international scale. According to the minister, this development has also created job opportunities and contributed to value chain development.
Mr. Zitouni attributed this success to President Abdelmadjid Tebboune’s policies on import rationalization and support for national production, emphasizing that “Algeria possesses the potential to achieve its goals in this field.”
Balanced Approach to Imports and Export Potential
The minister clarified that the reduction in imports does not mean a complete suspension, as “some claim,” but rather a strategy to rationalize importation. He added that the surplus in certain locally produced items presents promising prospects for exports at competitive prices.
Positive Indicators from Cosmetica Fair
With participation from around 250 companies, the minister described the strong turnout at the Cosmetica Fair as a “positive indicator” of the growth in Algeria’s cosmetics and perfumes industry. He also praised the role of startups and university graduates active in manufacturing, stating that their contributions have significantly boosted the sector.
Furthermore, the participation of over 17 countries in the fair presents an opportunity for Algeria to develop industries it has not yet mastered by fostering future partnerships. Mr. Zitouni noted that the country still imports some materials, which it aims to produce locally in the near future.
National Product Survey and Market Regulation Plans
Regarding the upcoming national survey of domestic production, set to begin next Monday, the minister said it would evaluate Algeria’s production capacity. The survey will cover 186,000 manufacturing enterprises across various sectors.
On the new Market Regulation Law under preparation, Mr. Zitouni described it as a “societal law” being developed collaboratively with stakeholders, including traders, professional organizations, unions, manufacturers, administrators, and importers. The law aims to organize and integrate the informal and electronic markets under a participatory approach.
Preparations for Ramadan
Addressing preparations for the upcoming Ramadan, the minister noted that recent years have seen “collective awareness” regarding promotional discounts and pricing during the holy month. Efforts to organize markets, combat shortages, and stabilize prices are ongoing year-round, he added.
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Author: Nor-Eleslam
