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إدارة الموقع

The BRICS File… 4 Important Months Before Algeria’s Accession

Imène Kimouche // English Version: Med.B.
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The BRICS File… 4 Important Months Before Algeria’s Accession

The members of the BRICS bloc will meet in Johannesburg, South Africa, next August to respond to new applications for membership, including Algeria, which has shown great interest in joining the group.
Time is running out for the various ministries in charge of economic affairs in Algeria to complete reforms and achieve a leap in growth by 2023, as well as in industry, trade, finance and the interior, especially as this bloc is made up primarily of developing countries, although it does not impose any specific conditions for membership.
The head of the Algerian National Confederation of Employers, Zargoun Rahmoune, said in a statement to Echorouk that the private sector is today seeking by all means to achieve a higher growth rate by signing new investments, especially in sectors related to mines, energy, renewable energies, the food industry, emerging institutions and the technology sector.
Mr. Rahmoune stressed that the new steps taken in the field of automobile production with the signing of an agreement with the “Fiat” factory, the “Stellantis” branch and the start of production before the end of the year, as well as the return to production of the “Renault” factory soon, will contribute to the revival of the industrial sector and increase its growth rate.
He further stated that the revival of investment also requires greater efforts on the part of ministries and departments to implement the instructions of the President of the Republic to eliminate bureaucracy, remove obstacles and speed up the completion of the file of the National Agency for Industrial Property, to start distributing land to investors and to continue the banking reforms undertaken by various public banks by granting more facilities to bona fide customers.
Our interlocutor also believes that Algeria’s wealth, geographical location, vast territory and the economic reform plans it has embarked on, particularly in the agricultural and industrial sectors, mean that it now has a good chance of joining the group.
In this context, the economist Mahfoud Kawbi considers that Algeria’s accession to the BRICS group next August is very likely, given that this bloc does not impose specific conditions for accepting new members, and that it is sufficient for the newcomer to be able to influence the region in which it is present, which is the case for Algeria, which is a major military power in Africa and has a large number of ingredients to achieve an economic leap and the ability to influence energy decisions, for example.
However, as Mr Kawbi stressed in a statement to Echorouk, this does not exclude the importance of launching the second generation of economic reforms at the level of accession to this group in order to achieve a higher growth rate by activating local and foreign, public and private investments and controlling the practices of the national market. The creation of new jobs, an increase in the proportion of exports to foreign countries, a reduction in the import bill, the liberalization of the private sector, the revitalization of the public commercial sector and the continuation of banking reforms, especially since Algeria’s accession to the BRICS will allow it to benefit from new funds for investment operations, which will enable it to enter into partnerships with member countries and to conquer the African market.
It should be noted that 12 countries have expressed their desire to join the BRICS bloc, including 4 Arab countries, at a time when Algeria, based on previous statements by President Abdelmadjid Tebboune, is trying as much as possible to increase the contribution of industry to the gross domestic product to between 10 and 15 percent, this indicator will give a strong impetus to Algeria in the bloc if it joins in the future, according to the unanimous opinion of experts.

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