Algeria: “Towards Licensing The Export Of Edible Oil, Sugar And Pasta Again”

The Algerian Economic Renewal Council appreciated the directives issued by President of the Republic Mr. Abdelmadjid Tebboune regarding expanding the network of Algerian banks abroad and liberalizing the export of edible oil, sugar and pasta and creating logistical bases for export.
According to a statement by the Algerian Economic Renewal Council, the latter welcomed with great satisfaction the new decisions announced by President of the Republic Mr. Abdelmadjid Tebboune regarding exports outside hydrocarbons, during the ceremony of awarding the second prize of the President of the Republic for the best exporter for the year 2023.
The issued directives relate to redrawing the map of the country’s foreign trade, as required by the national interest and geopolitical challenges in the world and liberalizing the exports of some productive sectors whose capacities exceeded national needs, such as edible oil, sugar and pasta, and creating logistical bases directed towards export at the level of all economic poles.
It was also decided to expand the network of Algerian banks abroad, especially in Africa, and to open air and sea trade routes to strengthen Algeria’s pivotal role in the region, open investment to private individuals and foreigners in the field of major distribution networks, and allow exporters to use the temporary improvement system to increase their exports in products with high added value.
These decisive measures will allow a significant and tangible increase in the volume and diversification of exported products and enhance the positive image of our country, as the Algerian Economic Renewal Council welcomes the strategic vision of the President of the Republic and his will to make every effort and take measures to ensure the strengthening of our country’s economy.
On the other hand, the Council congratulates all the heads of companies whose efforts in the field of export have been honored by the President of the Republic.