Algerian President Abdel Majid Taboun announced at a meeting of the Council of Ministers that Algeria is demanding a review of the partnership agreement with the European Union, based on the “Rabah-Rabeh principle” without intention to enter a conflict with the Europeans.
“Reviewing the agreement with the European Union is not against the backdrop of a dispute, but rather a support for the good relations between Algeria and the European Union as an economic partner based on the principle of a winner-profit.”
He added that “the direction towards reviewing this agreement is imposed by realistic economic data, as since it entered into force in 2005, Algeria’s exports were mainly dependent on hydrocarbons.”
He explained, “Today, today, our exports were varied and expanded outside fuel, especially in the field of agricultural production, minerals, cement, foodstuffs, etc..”
In mid -June, Brussels announced that it had opened a measure to settle disputes with Algeria, accused of restricting the European Union’s exports and investments in the country in North Africa, and called for consultations with the authorities.
The European Union considered that the restrictive measures taken by Algeria violate its obligations under the partnership agreement between the European Union and Algeria.
The agreement was signed in 2002 and entered into force in 2005, and sets a framework for cooperation in all fields, including trade.
The European Union is the largest partner for Algeria, and represents about 50.6% of the country’s international trade in 2023.
In recent years, the total value of the European Union exports to Algeria fell steadily from 22.3 billion euros (23.4 billion dollars) in 2015 to 14.9 billion (15.6 billion dollars) in 2023, according to the European Commission.
