Algeria has decreed a total commercial unblocking with Spain after nearly 900 days of economic reprisals against Madrid, following the decision of the government of Pedro Sánchez to recognize Morocco’s autonomy plan for Western Sahara as the only option to resolve the conflict. The unblocking measure, indicates the Spanish information platform Atalayarwas announced by the Bank of Algeria in a press release addressed to Algerian banks.
«In June 2022, the Association of Banks and Financial Institutions of Algeria (ABEF) requested the freezing of domiciliations of foreign trade operations of products and services originating and destined in Spain», recalls the information site.
Before this lifting of trade sanctions, which affects all sectors but only in the direction of exports to Algeria, licenses had been granted for the import of meat, poultry products and cement, very important products for the Algeria.
This end of the commercial blockade on Spain comes at a time when Algeria has imposed the closure of its market to products from France, particularly after French President Emmanuel Macron reaffirmed France’s support for the Moroccanness of Sahara and the autonomy proposal. “A position made evident during the French leader’s state visit to Rabat at the invitation of King Mohammed VI», lit-on encore.
The measure towards Spain is intended to be a means of offsetting a reaction which could deal a major economic blow to Algeria’s coffers. “We can talk about billions of euros in total, since it is a total commercial shutdown in practically all sectors», écrit Atalayar.
The volume of trade between the two countries is of the order of 12 billion dirhams, two-thirds of which is made up of Algerian hydrocarbon exports. Suffice it to say that it is Algeria that has a lot to lose, especially since its market and its businesses are highly dependent on French supply chains and products and other inputs.
