Note: Algeria has strengthened its economic ties with Tunisia and opened its doors to Africa

On Thursday, February 24, 2022, the Tunisian Economic Observatory released a memo entitled “Economic Cooperation with Maghreb in Algeria and Expansion into Africa”, and the newspaper “Le Monde Africa” ​​was addressed by an advisory body to the President of Algeria. Algeria program of economic cooperation with Tunisia.

Algeria and Maglev

According to the observatory, this article reveals that Algeria plans to carry out five projects in Tunisia. A joint project between the Tunisian Electricity and Gas Company and the Algerian Electricity and Gas Company, another rehabilitation program for the crude oil refining unit. It is the only production unit in Bizerte, Tunisia, which relies on the Tunisia Refining Industry Association and has established a technology pole in the province of Tozeur.

The program is based on the agreement signed between Sonatrach and the Tunisia Refining Industry Association on February 5, 2022 to establish a partnership in the field of activity-related training, the economy between Tunisia and Algeria. It can be seen as a continuation of cooperation. A project to develop hydrocarbons and establish a technical center in Tozeur.

This is an extension of the partnership and cooperation agreement signed with Willaya in Algeria in Elwed in 2015, and Algerian authorities will call it between the two countries when the Arab Student Center was launched between Tozul and Elwed in 2019. A free zone aimed at developing trade and making the region an economic hub that includes the agricultural, trade, tourism and cultural sectors.

Algeria’s economic cooperation extends not only to Tunisia but also to Libya. This is because Algeria’s state-owned company Sonatrach signed a memorandum of understanding with the Libya State Oil Corporation on February 11, 2022, and resumed activities in the field. An overview of exploration and the development of discovered oil fields in Libya.

For this purpose, Sonatrach’s investment in Libya will be $ 200 million, in parallel with continued work to establish a free trade area at the border post between Dab Dab and Gadamis, according to the Minister of Foreign Affairs of Algeria. Is planned to be. At the end of 2021, Algeria worked with the Libyan side to establish a free trade zone between Algeria and Libya and to open a final logistical and technical arrangement to open customs in Dabdab and Gadamis after the closure. It is completed. For security reasons, this is the 5th consecutive year.

Algeria and sub-Saharan Africa

Algeria’s economic initiative extends across the African continent across the borders of the Maghreb region.

Construction of the last section of the Trans-Saharan Trade Road, which connects the six African countries (Tunisia, Mali, Niger, Nigeria, Chad and Algeria), has begun, according to Algerian authorities.

Algeria has spent about $ 2.6 billion to complete this road. It will be doubled by a gas pipeline capable of exporting Nigerian gas to Europe and will double trade with these six countries through the development of this road and new horizons. In Chad, Mali and Nigeria, you will have access to the ports of Tunisia and Algeria. In particular, the port of Hamdaniya in Algeria is nearing completion.

Algeria considers promoting the hydrocarbon sector and establishing free zones a priority. Algerian authorities are also encouraging neighboring countries to work together to turn border crossings into commercial exchange zones.

Finally, Algeria is actively seeking the completion of the Trans-Saharan Highway to connect Africa to the whole world by linking it to China’s Belt and Road Initiative, rather than connecting it to Europe.

Regarding the economic growth forecast for 2022, the budget of Algeria is about 3.3%, the growth rate of the hydrocarbon sector is 4%, agriculture is 4.5%, and industry is 4.1%. Hydrocarbon exports are also expected to remain at the $ 27.9 billion level, with total imports expected to fall 5.4% from 2021 levels to $ 31.5 billion.

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