CREA President Highlights Fruitful Meeting on Export Growth, Emphasizing Role of Local Businesses in Achieving Production Surpluses

BY: Dr. Hana Saada

Algiers, Algeria | November 22nd, 2024 — In a key meeting held on Thursday in Algiers, Kamel Moula, President of the Algerian Economic Renewal Council (CREA), praised the working session on exports, which was presided over by President Abdelmadjid Tebboune. Moula described the gathering as both “important and fruitful,” focusing on enhancing Algeria’s export strategy beyond hydrocarbons and boosting local production to achieve sustained economic growth.

Speaking at the Presidential Palace following the meeting, Moula outlined that the discussions centered on the critical importance of diversifying Algeria’s export base, particularly focusing on non-hydrocarbon sectors. The session also provided a comprehensive review of the progress made thus far, as well as the future objectives aimed at strengthening the country’s export capabilities.

Moula emphasized that local businesses would play a pivotal role in this expansion, with an emphasis on increasing the volume of non-hydrocarbon exports. He noted that the government’s target of creating 20,000 new businesses would contribute significantly to achieving production surpluses, which in turn would reinforce Algeria’s export capacity. This initiative aims to diversify the economy, reduce dependency on oil and gas revenues, and position Algeria as a competitive player in international markets.

The CREA president also took the opportunity to congratulate Mohamed Boukhari on his recent appointment as Minister of Foreign Trade and Export Promotion. Moula assured Boukhari of the full support of the CREA in his new role, underscoring the collaborative efforts necessary to achieve Algeria’s ambitious export goals.

This meeting, which comes at a crucial time for Algeria’s economic transformation, signals a robust commitment to economic diversification and a renewed focus on creating a sustainable export model that can fuel long-term growth. With the active involvement of local businesses and the support of key government initiatives, Algeria is poised to take significant strides towards economic independence and global market integration.

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