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November 20, 2024 | 1 month ago

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An export portfolio to meet the challenge

Foreign trade and exports are now a priority.

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A New Ministry to Boost Algerian Exports

The recent ministerial reshuffle in Algeria resulted in the creation of a Ministry of Foreign Trade and Exports, entrusted to Mohamed Boukhari, Professor of Economics at Algiers-3 University. This portfolio reflects the strategic importance attached to the export of national products, as part of a drive to diversify the non-hydrocarbon economy.

This ministry will focus on export promotion, regulation, and policy implementation to enhance Algerian products' global market presence. The initiative aligns with priorities outlined in the 2025 Finance Law and emphasizes investment in strategic sectors such as iron, start-ups, and innovation.

Entrepreneurship and Innovation as Pillars of Strategy

President Tebboune is betting on young entrepreneurs and start-ups to build a diversified and sustainable economy. The organization of the Global Entrepreneurship Week in Algiers, with over one million project participants, reflects this ambition. Over 20,000 entrepreneurship cards have been issued in just a few months, showcasing the program's success.

Algeria's start-up development is coupled with its openness to the African continent and the rest of the world. The country aspires to become a technological and innovation hub in Africa, sharing its expertise with other countries and strengthening scientific and economic partnerships.

Challenges for Foreign Trade

The new Minister of Foreign Trade and Exports will be tasked with structuring and intensifying efforts to position Algeria on world markets. This includes supporting the industrial, agricultural and mining sectors in meeting the new economic and trade challenges by transitioning to international standards.

November 20, 2024 | algeria-logo

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