Algeria’s commercial balance explodes; the deficit exceeds $6 billion

Large deficit in Algeria’s balance of trade value by the end of last May, reached $ 6 billion for the first time in a matter of 5 months, Chairman of the Association of Algerian Exporters, Ali Bali Nasseri, said.

These figures were obtained by the association, a few hours ago, from official sources which said that they are the most negative figures since 20 years, and particularly since 1995, calling upon the higher authorities to contrive new measures to regulate the import, and impose more strict customs and fiscal duties before it is too late.

Ali Bay Nasseri told Echorouk that the WTO does not prevent the adoption of the austerity policy in imports or the adoption of a list containing products that are banned from import, as pursued by the neighboring country Tunisia, which put a list of products that are prohibited from import, and even the products that are banned from export, including the dairy products that are exported to Libya, which announced a week ago about freezing their export due to the growing proportion of local needs in Ramadan, and wondered about the secret behind the stalling of the Commerce Ministry stalling in releasing this list, and the statements of the Trade Minister, who said: “We cannot prevent the import of bananas and kiwi, because this is linked to the freedom of foreign trade.

President of the National Assembly of Algerian Exporters explained that the instruction 03-04 that is included in the World Trade Organization rules and even laws “WTO” that allow the intervention in the foreign trade by the government of any country in special cases, such as in the negative case of the trade balance. A situation that is experienced by Algeria at the present time, and the cases that are related to the protection of national production along the lines of the situation that is experienced by the fabric companies, which allows the imposition of import license for a specified period.

 “Such decisions are offered by all the international legislations, while the Trade Ministry is stalling in their approval, which explains the explosion of the trade balance, which leaves mingled all the higher authorities’ plans, at a time when ministers and officials are talking about austerity because of the low prices of oil.