Algeria engages in negotiates with EU to avoid process of international arbitration
Date
9/22/2024 3:13:10 AM
(MENAFN) Algerian Foreign Minister Ahmed Attaf has confirmed that Algeria is currently engaged in negotiations with the European Union in an effort to avoid the process of international arbitration. This development follows a threat issued by the European Commission three months ago, after Algeria took the controversial step of suspending its exports to EU member states. The suspension of exports, viewed by the European Commission as a violation of the bilateral partnership agreement that has been in place since 2005, sparked a trade dispute between the two parties.
The issue came to light when Abdelwahab Yaakoubi, a prominent parliamentarian from the Islamic Movement for a Peaceful Society, publicly shared Minister Attaf's official response on his social media accounts. Yaakoubi had earlier submitted a written inquiry to the Foreign Minister, seeking clarification on the potential risks Algeria might face as a result of the European Commission's actions.
In his response, Minister Attaf reassured the public that the partnership agreement between Algeria and the European Union does not stipulate any automatic financial penalties that would arise from the final resolution of the dispute. He explained that whether the matter is resolved amicably through consultations or escalates to arbitration, the agreement itself does not mandate financial repercussions. Attaf also expressed confidence that international arbitration is an unlikely outcome, as most disputes of this nature are typically settled during the consultation stage.
This recent disclosure by Minister Attaf marks the first official acknowledgment that consultations between Algeria and the European Union have begun, signaling a potential pathway toward de-escalating the ongoing trade conflict. The trade dispute, which first erupted in June of this year, has caused considerable tension between the two sides. As reported by the Middle East Agency, the consultations are seen as a critical step in resolving the matter before it escalates further.
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