Car dealers must open capitals by 30 percent

Algerian trade ministry took stringent regulating measures at ports to tighten the noise on fake spare parts importers to the national market, said regulation director at the ministry.

• “The ministry reinforced the capacities of surveillance and intervention staff,” Ouaali Yahiaoui told a radio channel on Tuesday.
• “Intervention measures have been stepped up in border inspection departments in big ports while the number of surveillance and inspection agents is expected to go up to 30 from 6,” he added.
• He also said cars and spar parts importing costs more than $2.5 billion per year. Of them, spare parts cost $500 million. “It is almost the same cost of milk importing.”
• He believes that the fake spare parts ‘invasion’ of the national market endanger the Algerian economy and the safety of drivers. “We must end that.”
• “Car dealers, the trade and justice ministry and customs should contribute in this fight against fake spare parts importers.”
• According to Yahiaoui, all the foreign companies importing cars to Algeria must open their capitals by 30 percent at least for Algerian shareholders and 70 percent at most for foreign shareholders.