CREA’s Moula Endorses, Commends President Tebboune’s Initiative to Regulate Foreign Trade, Safeguard Algeria’s Economic Interests

✏️ BY: Dr. Hana Saada

Algiers, Algeria | September 25th, 2024 — In a decisive move to protect Algeria’s economic interests, Kamel Moula, president of the Algerian Economic Renewal Council (CREA), reaffirmed his full support for President Abdelmadjid Tebboune’s efforts to regulate foreign trade. This initiative aims to safeguard and promote the national economy, ensuring that local needs are met before focusing on external markets.

Moula highlighted the importance of balancing exports with local demand, emphasizing that while increasing exports remains a critical goal, the priority should be to satisfy domestic needs through local production. “Like any other nation, it is only natural that the government works to prioritize national demand with locally produced goods. This strategy is essential to prevent shortages and market tensions,” Moula stated.

During a recent meeting, President Tebboune underscored his stance, making it clear that any creation of shortages will not be tolerated under any circumstances. He urged the Ministry of Commerce to remain vigilant in combating import lobbies, threatening to revoke licenses and business registrations of those engaged in dubious practices.

In addition to this, Tebboune ordered the preparation of a presidential decree aimed at regulating foreign trade, including export operations. This decree will require thorough financial and economic feasibility studies to ensure that “exports do not become a curse or lead to domestic shortages and market imbalances.”

Moula expressed confidence that these regulations would not only promote a fairer economy but also align with the broader goal of national development while maintaining the state’s social character. He emphasized that this regulatory framework will involve close collaboration with all relevant stakeholders.

Tarek Boulmerka, president of the National Association of Algerian Exporters (ANEXAL), also welcomed the President’s directives. He noted that the policy would create a healthy balance between imports and exports, preventing local shortages. Boulmerka further emphasized the importance of feasibility studies to ensure that both export and import operations are guided by sound economic principles.

Additionally, Abdelkader Slimani, an economic expert, lauded the initiative, pointing out that it would help curb the influence of import lobbies. He stressed that these lobbies were responsible for overpricing, which had previously harmed the national economy, especially before 2020. By strengthening local production and controlling imports, Slimani argued, the availability of essential goods and production inputs would be secured.

As Algeria moves forward with these reforms, the focus remains on securing the local market and boosting national production, ensuring that “Made in Algeria” becomes a cornerstone of the country’s economic future.

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