Algeria has made significant strides in replacing imports with domestically produced goods and has even begun exporting certain products since 2020. Minister of Foreign Trade and Export Promotion, Kamal Rezig, highlighted this progress during a recent workshop on import substitution.
Addressing participants at the event, themed ‘Directing Investment for a Strong National Production’ and organized by the Algerian Investment Promotion Agency, Minister Rezig stated that Algeria possesses considerable potential to substitute numerous imported items with locally manufactured alternatives. This approach is rooted in an economic strategy that emphasizes leveraging domestic production capabilities and bolstering productive investment.
“The national production sector has witnessed remarkable development since 2020,” Rezig noted, “with Algeria now producing goods that were previously imported. Some of these products have successfully entered international markets and gained a genuine competitive edge.”
The Minister underscored the importance of the workshop’s outcomes, expressing his hope that the resulting recommendations and findings would translate into concrete actions and on-the-ground projects. These initiatives, he emphasized, should contribute to advancing import substitution and strengthening national production, thereby serving the nation’s sustainable economic development.
It’s worth mentioning that the workshop was also attended by the Minister of Internal Trade and Regulation of the National Market, Amal Abdel Latif, and the Minister of Agriculture and Rural Development and Fisheries, Yacine Oualid, at the invitation of the Director-General of the Algerian Investment Promotion Agency, Omar Rekache.
This marks a positive shift for the Algerian economy, signaling a move towards greater self-reliance and increased competitiveness in the global market.
