Friday, September 22

Algeria disavows the banking employers’ association on the commercial blockade with Spain

Algeria has stated this Saturday that commercial relations with Spain “are the exclusive prerogatives of the State and not of professional organizations, such as the Association of Banks and Financial Institutions (ABEF)”, according to a note collected by the official APS news agency.

In this way, Algeria disavows the banking employers’ association ABEF, which this Thursday, July 28, announced the lifting of the restrictions decreed on June 9 by suspending direct debits for foreign trade between the two countries, which blocked transactions.

The ABEF (which brings together around thirty banks and financial establishments operating in Algeria) “is a professional association and defends the interests of its members”, collects the note from the official agency.

Therefore, according to this note, “the complaints made, for the time being, by certain media about an alleged regression of Algeria in its commercial relations with Spain are erroneous, because no official information has been made public in this regard by the authorities. or competent institutions.

The decision of the ABEF was taken after the suspension of the Treaty of Friendship on June 8 and blocked the merchandise in customs since June in addition to paralyzing the opening of new operations, although at that time the Government did not pronounce itself.

Today, through the official news agency, he explained that “decisions related to financial and commercial matters that commit the State are taken by the Council of Ministers, by the Ministry of Finance or by the Bank of Algeria and are announced to through official channels.

Algeria has defended the suspension of said treaty with Spain as a “sovereign decision”, and has branded as “hasty” and “unfounded” the declarations issued at the time by the European Union (EU) for the possible paralysis of trade and a violation of community agreements.

“The haste and bias of these statements highlight the inadequacy of their content, since it is a political disagreement with a European country of a bilateral nature that has no impact on Algeria’s commitments with the EU”, he declared in its time the Algerian Foreign Ministry.

Algeria and Spain are experiencing an unprecedented diplomatic crisis since Madrid changed its policy on Western Sahara by supporting the proposal for autonomy for the former Spanish colony within Morocco, moving away from the historic position of holding a self-determination referendum.