Mohamed Boukhari Calls for Effective Mechanisms to Boost Trade Between Algeria, South Africa

BY: Dr. Hana Saada

Algiers, Algeria | December 6th, 2024 — On Thursday, during the opening of the Algerian-South African Economic Forum in Algiers, Mohamed Boukhari, Algeria’s Minister of Foreign Trade and Export Promotion, underscored the pressing need for robust mechanisms to enhance bilateral trade between Algeria and South Africa, particularly within the framework of the African Continental Free Trade Area (AfCFTA). This call comes amid a growing desire to solidify the economic partnership between the two nations, aiming to increase the volume of trade and foster mutual prosperity.

In his speech, Boukhari emphasized the importance of establishing a “joint cooperation mechanism” through the forum, aiming to strengthen commercial ties, with a particular focus on boosting exports. “It is crucial to identify and prioritize areas of commercial cooperation between our countries, ensuring a win-win approach that serves our mutual interests,” he said, highlighting the centrality of the economic partnership in advancing shared development goals.

The forum, held in conjunction with the 7th session of the Algeria-South Africa High-Level Bilateral Cooperation Committee, serves as an important platform for exchanging knowledge and identifying viable business opportunities. Boukhari pointed out that such exchanges are essential for increasing trade volumes and meeting common developmental objectives.

The minister also spotlighted the critical importance of opening the South African market to Algerian products, while reciprocally facilitating access for South African goods to the Algerian market. This initiative is seen as a stepping stone toward developing stronger economic and commercial partnerships that cater to the interests of both nations.

“The mutual desire to forge strong economic and trade relations is palpable, and we must capitalize on available opportunities, while also transferring valuable knowledge and experiences that will lay the foundation for building a resilient economy,” Boukhari added, stressing the collective determination to foster closer ties.

Boukhari also discussed the broader context of African economic integration, urging African nations to intensify their efforts and engage in continuous collaboration to devise innovative solutions that will benefit all parties involved. He reaffirmed Algeria’s commitment to this cause, underscoring the strategic importance of the African Continental Free Trade Area (AfCFTA) in this regard. He reminded participants that Algeria joined the AfCFTA trade initiative in December 2023, a move that facilitates borderless trade and eliminates tariff barriers between participating nations.

Furthermore, Boukhari highlighted Algeria’s significant infrastructural advancements aimed at enhancing intra-African connectivity, including the development of maritime and air transport lines to key African markets. In his speech, he also referenced recent economic reforms, including the adoption of a new investment law that guarantees investment freedom and equal opportunities for investors.

As Algeria and South Africa continue to deepen their economic collaboration, the Economic Forum stands as a testament to their shared vision for prosperity, emphasizing the importance of cooperation within the African context and the vital role of free trade agreements in advancing the continent’s economic integration.

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