Algiers, Algeria – (African Boulevard News) – Algeria is planning to reintroduce the “green circuit” for major importers and exporters. The circuit, which was in operation between 2014 and 2019, enabled major companies, often those close to the authorities, to obtain substantial reductions in customs duties. The Algerian government aims to reintroduce this circuit to incentivize large-scale companies to continue their trade and investment activities in the country.
The “green circuit” system involves the Ministry of Trade and the General Directorate of Customs offering preferential treatment to major companies. In exchange for this treatment, these companies pledge to increase their supply of goods to the local market and increase their exports. The system would also allow for the quick release of goods at customs checkpoints, thereby reducing the waiting period for importers and exporters.
According to a source close to the Algerian Ministry of Trade, “The reintroduction of the ‘green circuit’ is part of the government’s ongoing efforts to improve the country’s economic performance and attract foreign investment. This system will provide a level of predictability and stability necessary for companies to plan their investments and trade activities in the long-term.”
The reintroduction of the “green circuit” is a positive development for the Algerian economy, which has been struggling in recent years due to a slump in oil prices. The system is expected to benefit large companies that have invested in the country and help them to remain competitive in the global market.
The Algerian government has been working to improve the country’s business climate and streamline administrative procedures to attract foreign investment. This move also signals the government’s willingness to create a more business-friendly environment and promote economic growth.
However, critics of the system argue that it favors large companies with close ties to the government and could result in unfair competition that could stifle smaller businesses. To avoid this, the Algerian government should ensure that the “green circuit” is transparent and accessible to all businesses.
In conclusion, the reintroduction of the “green circuit” is a welcome development for the Algerian economy. It will help to attract foreign investment, promote economic growth and create a more business-friendly environment. However, the government must ensure that the system is transparent and accessible to all businesses to prevent unfair competition.
