Algeria disavows its employer ABEF on the trade blockade with Spain

Firm decision. Algeria stated this Saturday that trade relations with Spain “are the exclusive prerogatives of the State and not from 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 restrictions decreed on June 9 by suspending direct debits for foreign trade between the two countries, which blocked transactions. The ABEF (which brings together some thirty banks and financial establishments operating in Algeria) “is a professional association and defends the interests of its members,” the note from the official agency collected.

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

The decision of the ABEF fue taken after the suspension of the Treaty of Friendship on June 8 and blocked the merchandise at 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 “the decisions related to financial and commercial matters that commit the State are taken by the Council of Ministersby the Ministry of Finance or by the Bank of Algeria and are announced through official channels”.

Algeria defended today as a “sovereign decision” the suspension of said treaty with Spain, and called “hasty” and “unfounded” the statements 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 inappropriateness of its contentsince it is a political disagreement with a European country of a bilateral nature that has no impact on Algeria’s commitments to the EU,” the Algerian Foreign Ministry declared at the time. Algeria and Spain are experiencing a diplomatic crisis since Madrid gave a turn to its policy on Western Sahara by supporting the proposal for Moroccan autonomy within Morocco, moving away from the historic position to hold a self-determination referendum.