Algeria denies the reversal of the trade blockade against Spain | Atalayar

Algeria has disavowed the Association of Banks and Financial Institutions (ABEF), who announced a little more than a day ago a return to normal trade with Spain on the grounds that the precautionary measures against the Spanish nation were not necessary.

The Algerian state said on Saturday that commercial ties with Spain “are the exclusive prerogative of the state. and not professional organizations, such as the Association of Banks and Financial Institutions (ABEF)”, according to a press release published by the official APS news agency.

On June 9, Algeria decreed the suspension of levies related to foreign trade between the North African country and Spain, which led to a total blockage of transactions, fully affecting commercial operations between the two nations, which are closely linked in this regard, affecting many entrepreneurs and traders who have important business derived from the commercial activity established between the two countries. This decision, which dealt a major economic blow to the commercial sector, was the result of the Spanish government’s decision to recognize Morocco’s proposal for a solution to the Western Sahara conflict as the “most serious, credible and realistic” within the UN postulates. This position has provoked great anger in Algeria, political rival of the Alawite kingdom in the Maghreb and main ally of the Polisario Front, which advocates the holding of a referendum on the independence of the Saharawi people, less supported at the international level than the Moroccan proposal, which advocates broad autonomy for the Sahrawi region under the sovereignty of the Kingdom and has been supported by countries as important as the United States, Germany, the United Kingdom and the United Arab Emirates.

PHOTO/Russian Foreign Ministry via REUTERS – Algerian President Abdelmadjid Tebboune

Next, on July 28, ABEF announced the lifting of restrictions, but today the Algerian state has denied them, which is a major setback for bilateral relations.

The announcement of the lifting of restrictions was welcomed in Algeria and Spain as it was a step towards resuming business operations. Djamel Eddine Bouabdallah, president of the Algerian-Spanish Trade and Industry Circle, called the decision “a very important step” and welcomed the return to “normal trade”.

This supposed return to normality was expected due to the important economic and trade relations between Spain and Algeria. But now comes this setback with the maintenance of a closed position on the part of the Algerian state.

REUTERS/RAMZI BOUDINA – Bank of Algeria in Algiers

It seems that the Algerian administration does not take into account the economic and commercial aspect, and that the political stake resulting from the conflict with Morocco, which in this case affects Spain, continues to weigh heavier.

The ABEF (which brings together some thirty banks and financial institutions operating in Algeria) “is a professional association and defends the interests of its members”, according to a note from the official APS agency, also reported by the EFE agency.

This press release also underlines that “the allegations made, for the moment, by certain media on the alleged decline of Algeria on its commercial relations with Spain are erroneous.because no official information has been made public in this regard by the competent authorities or institutions”.

REUTERS/NACHO DOCE – Shipping containers at the Port of Barcelona

“Decisions in financial and commercial matters of interest to the State are taken in the Council of Ministers, at the Ministry of Finance or at the Bank of Algeria and are pronounced by official means”, says the official note.