Explore Algeria’s official entry into the Targeted Trade Initiative, fostering continental integration and boosting trade exchanges. Minister Zitouni emphasizes the significance of this step and encourages Algerian businesses to capitalize on the initiative. dzwatch.net.
Algeria, through its Minister of Trade and Export Promotion, Taieb Zitouni, officially declared its participation in the Targeted Trade Initiative on Saturday. This initiative marks the commencement of trade exchanges between Algeria and its partners in the initiative, eliminating customs restrictions.
Minister Zitouni highlighted that Algeria’s inclusion in this initiative aligns with the path of the African Continental Free Trade Area. Currently, Tunisia, Egypt, Kenya, Ghana, Cameroon, Rwanda, and Mauritius are actively engaged in this endeavor.
During the inauguration of the Economic Forum on the Targeted Trade Initiative within the framework of the African Continental Free Trade Area, Zitouni emphasized Algeria’s keen interest in achieving continental integration, a top African priority for the nation.
Zitouni stated, “Trade remains significantly below our aspirations, with intra-African trade accounting for no more than 15%, equivalent to 2% of global trade. Reviving the optimal utilization of Africa’s capabilities through this continental approach will enhance intra-regional and global trade, attracting foreign direct investments to our vast continent.”
The Minister expressed Algeria’s anticipation of fostering genuine, beneficial, and balanced partnerships within Africa and beyond, challenging historical dependencies. Additionally, Algeria places great importance on realizing one of the key projects of the Agenda 2063: the African Continental Free Trade Area, serving as a common framework for comprehensive growth and sustainable development over the next five decades.
According to the Minister of Trade, Algeria has completed the preparation of the preferential lists for goods trade, endorsed during the 9th meeting of the Council of Ministers of the African Continental Free Trade Area in July 2022. This effort is further reinforced by the Targeted Trade Initiative launched in the 10th meeting of the Council of Ministers in Ghana in October 2022.
Minister Zitouni urged Algerian economic operators to intensify trade exchanges with African countries, seizing the opportunity presented by the Targeted Trade Initiative to direct exports towards participating African nations.
