Algerian authorities have decided stiffening measures to control foreign trade

The Algerian authorities have decided to set up a follow up Committee in a bid to supervise foreign trade business and curb hard currency’s haemorrhage caused by unchecked import commodities in various sectors of activities

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• These operations have cost the treasury $ 40 billions the year before the last while official assessments confirm a slight shrink in foreign expenditures valued at $36 billions. The Committee is set to begin its activities next month.
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• The Algerian president Abdelaziz Bouteflika has staunchly criticized the procedural uncertainty that prevails in the sector forcing the government to reconsider its strategy in the matter.
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• This new approach aims at curbing the imports’ “Barons” who held sway on sensitive sectors like pharmaceutical and food goods. The Committee will be in charge of assessing foreign trade transactions and work for the promotion of Algerian exports.
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• Led by the foreign trade minister, the committee will include several representatives from other ministries including the interior, finance, transportation, agriculture and the Algerian bank.