Algeria to lead free trade zones with African partners in 2024

(MENAFN) Algerian President Abdelmadjid Tebboune announced plans to initiate free trade zones with five African countries this year, aimed at bolstering intra-regional trade. Tebboune made these remarks during his address at the 41st meeting of the Steering Committee of Heads of State and Government of the African Union Development Agency (NEPAD), conveyed via closed circuit television as per a statement from the Office of the Presidency of the Republic of Algeria.

In his speech, Tebboune outlined Algeria's proactive approach towards fostering economic cooperation with its African counterparts. The proposed free zones are slated to commence with Mauritania, followed by engagement with Sahel countries such as Mali and Niger, alongside Tunisia and Libya. This strategic initiative reflects Algeria's commitment to advancing economic development and continental integration, aligning with broader objectives outlined by NEPAD.

Tebboune emphasized the significance of enhancing the efficiency of economic integration processes across Africa. The New Partnership for Africa's Development (NEPAD), encapsulated by the acronym, serves as a framework for the African Union's vision for comprehensive economic and social advancement across the continent, uniting its 55 member states.

Algeria's proactive stance in establishing free trade zones underscores its dedication to fostering closer economic ties with its African neighbors. Through collaborative efforts like these, Algeria aims to contribute to the realization of NEPAD's overarching goals, driving sustainable development and integration throughout the African continent.

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