Algeria’s trade relations with Spain: No climb-down from State

ALGIERS-The allegations peddled currently by certain media outlets on an alleged Algeria’s climb-down concerning its trade relations with Spain are false, because no official information was made by the authorities or competent institutions.

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ALGIERS-The allegations peddled currently by certain media outlets on an alleged Algeria’s climb-down concerning its trade relations with Spain are false, because no official information was made by the authorities or competent institutions.

Decisions concerning financial and commercial matters are taken by the Council of Ministers, the Ministry of Finance or by the Bank of Algeria and are announced through official channels.

Indeed, economic decisions, particularly those related to Algeria’s relations with its trading partners, are the exclusive prerogatives of the State, and not of professional organizations, such as; the Association of Banks and Financial Institutions (ABEF).

The ABEF, to which these media refer, cannot replace the state institutions responsible for finance, the economy and foreign trade. It is a professional association and defends the interests of its members.

The ABEF is an association bringing together under one roof about thirty banks and financial establishments operating in Algeria, including up to ten foreign ones, in particular the two French banks: BNP PARIBAS and Société Générale.

Its mission consists, above all, in representing the collective interests of its members vis-à-vis third parties, in particular with public authorities and the Bank of Algeria, the regulatory authority for banking activity.

As a reminder, Algeria had decided, on June 8, to “immediately” suspend the treaty of friendship, good neighborliness and cooperation that it concluded on October 8, 2002 with the Kingdom of Spain.

Algeria suspended with an “immediate” character, the Treaty of Friendship, Good Neighborhood and Cooperation with Spain for its “unjustifiable” change of position on the Western Sahara as announced in a statement by the Presidency of the Republic. On March 18, Spain reversed its traditional official position towards the conflict.

“The Spanish authorities have embarked on a campaign to justify the position they adopted on Western Sahara in violation of their legal, moral and political obligations as an administering power of the territory which rests with Spain until the completion of the decolonization of Western Sahara is declared,”

“These same authorities, which bear the responsibility for the unjustified shift in their position since the statements of March 18, 2022, through which the current Spanish government provided its full support for the illegal and illegitimate formula for internal self-government proposed by the occupying power, are working to perpetuate the colonial de facto policy resorting to fake justifications”, the Presidency of the Republic said in a statement.

“The position of the Spanish government is inconsistent with the international legitimacy imposed on it by its position as an administering power and with the efforts of the United Nations and the new personal envoy of the Secretary-General, and it directly contributes to the deterioration of the situation in Western Sahara and the entire region”, explained the same communiqué.

“Accordingly, Algeria has decided the immediate suspension of the Treaty of friendship, good-neighborliness and cooperation that it concluded with Spain on 8 October 2022 and which has provided, thus for, a framework for the development of relations between both countries,” concluded the source.

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