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April 17, 2023 | 1 year ago

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Banking support for exporting companies: A must

Samia Boulahlib
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For next year, Algeria plans to reach $10 billion in non-hydrocarbon exports. To this end, the Ministry of Trade has taken the necessary measures to encourage investment and the promotion of non-hydrocarbon exports through the Algerian production fair.

Contacted by us, Ibrahim Guendouzi, international expert and professor of economics at Mouloud-Mammeri University, Tizi Ouzou, gave some details on the development of non-hydrocarbon exports, as a “new priority”.

'Companies, especially SMEs, are regularly encouraged to expand their exports to make a commercial presence in foreign markets,' he added.

“With the potential to diversify domestic production and the presence of many companies that are able to sell part of their products abroad, particularly in African countries, since the implementation of the AFCFTA, export activity itself, apart from hydrocarbons, is taking off,” he argues, from nearly $2 billion in 2020 to $7 billion in 2022. However, this expert considered that "in order to consolidate those companies in the process of exporting, Algerian companies that are moving towards foreign markets need support from the specialized institutions". It was in this context that the decision was taken “to open branches of banks abroad,” he said...

April 17, 2023 | algeria-logo

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