Algeria has warned the member countries of the European Common Market that it will only import from those countries which buy Algerian goods in return.
Algeria has warned the member countries of the European Common Market that it will only import from those countries which buy Algerian goods in return. The warning came shortly before the opening of the Eighth Algerian Trade Fair in Algiers on Friday (August 27) from Trade Minister Layachi Yaker, who pointed out that 70 par cent of Algeria's foreign trade was with Common Market countries.
The Fair was opened by Algerian President Houari Boumedienne, who toured round the pavilions of the nations taking part.
SYNOPSIS: The Eighth Algerian Trade Fair was opened on Friday by President Houari Boumedienne, who toured the pavilions of the 34 nations taking part in the two-week exhibition in Algiers.
But while the President and his party were touring the pavilions, European traders were thinking about a warning from Algerian Trade Minister Layachi Yaker, who said at a press conference the previous night that Algeria would only import from those members of the European Common Market which in turn bought Algerian goods. Speaking at a press conference, Mr Yaker called on more foreign nations to buy Algerian goods -- so as to balance commercial exchanges, he said. He also pointed out that 70 per cent of Algeria's foreign trade was with Common Market member countries, especially France. Mr Yaker stressed, at the same time, that Algeria's policy was to build up trade links with developing countries, especially with its North African Neighbours. He estimated that Algeria's import requirements for this year would be about 500-million pounds sterling.
Among the trade delegates from the People's Republic of China was Mr Yen Pu Chai, the Chinese Deputy Minister for Public works.