Boukhari, Moula Lead Strategic Push to Diversify Algeria’s Export Sector, Strengthen Economy

BY: Dr. Hana Saada

Algiers, Algeria | November 21st, 2024 — On Thursday, November 21, 2024, a crucial working meeting dedicated to Algeria’s export strategy took place, under the leadership of President Abdelmadjid Tebboune. The meeting saw the participation of Mohamed Boukhari, Minister of Foreign Trade and Export Promotion, alongside Kamel Moula, President of the Algerian Economic Renewal Council.

In a joint statement following the meeting, Minister Boukhari emphasized the significance of the discussions, stressing that the meeting’s purpose was to complete President Tebboune’s vision for diversifying the national economy, particularly focusing on boosting non-hydrocarbon exports.

Minister Boukhari outlined that the Algerian government is committed to a comprehensive strategy designed to foster export growth. “This effort is primarily reflected in the establishment of a ministry dedicated to exports, a clear strategy built on a set of key criteria, including diversification of exports, collaboration among all stakeholders, enhanced efficiency in performance, and strict adherence to decision implementation,” the minister explained.

Highlighting the importance of a collaborative approach, Boukhari reinforced that the government would work within this strategic framework to meet the ambitious targets set for Algeria’s export sector. He emphasized the need for joint efforts and unwavering commitment to achieve these goals, ensuring that Algeria can take its place as a competitive player in global markets beyond its traditional reliance on hydrocarbons.

The meeting also saw valuable contributions from Kamel Moula, who provided an overview of the progress made in the country’s export sector and the forecasts for future achievements. Moula indicated that the focus would be on strengthening institutional involvement, with an ambitious target of establishing approximately 20,000 new companies in the coming years. This initiative is expected to create a surplus in products, which will, in turn, contribute to increasing the value of Algeria’s non-hydrocarbon exports.

This push for economic diversification is part of Algeria’s broader efforts to reduce its dependence on oil and gas exports and to expand into a range of other sectors. The government’s strategy has been to create a robust economic foundation that will help Algeria achieve greater self-sufficiency, sustainable growth, and long-term prosperity.

The strategic focus on non-hydrocarbon exports aligns with Algeria’s goals for the future, as it seeks to modernize its economy, diversify its industries, and boost its presence in international markets. By leveraging a mix of governmental action, business collaboration, and investment in key sectors, the country is set to pave the way for a new economic trajectory, one that promises to build upon the successes of the past while preparing for a more dynamic and diversified future.

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