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Faid stresses the importance of the insurance sector in boosting non-hydrocarbon exports

At the 14th annual meeting of the Aman Union, held for the first time in Algeria, Finance Minister Laaziz Faid highlighted the strategic role of the insurance sector in the growth of non-hydrocarbon exports. Speaking before an audience of Arab and international experts and economic players, he declared that “insurance is not just a risk management tool, but an essential lever for supporting and securing Algeria's economic diversification”.

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The Minister underlined the importance of insurance mechanisms to support Algerian companies in international markets to reduce dependence on hydrocarbons. The Algerian Export Insurance and Guarantee Company (CAGEX)is a key player in assisting companies offering guarantees for international transactions. The Minister announced structural reforms to boost the insurance sector, including service digitization and the regulatory framework improvement to attract foreign investment. The national strategy is aligned with the Sustainable Development Goals (SDGs) by 2030 and aims to strengthen the country's economic resilience and open up new investment opportunities.

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Faid stresses the importance of the insurance sector in boosting non-hydrocarbon exports

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