Following the suspension of the Treaty of Friendship and Good Neighborliness, trade between Algeria and Spain has been frozen. The Association of Banks and Financial Institutions (ABEF) sent a note to the directors of banks and financial institutions on June 8, 2022. It announced the suspension of trade between Algeria and Spain.
Algeria reverses its decision 50 days later. Indeed, the suspension of exchanges has been lifted, and the ABEF affirms that “the precautionary measures mentioned in the subject matter are no longer in order”, and this from July 28th.
Spain reacts positively to Algeria’s decision
Commenting on Algiers’ decision to lift the freeze on export and import operations with Algeria, Spanish Foreign Minister José Manuel Albares said on Friday evening that Madrid wanted normal relations, as is the case with all neighboring countries.
And the Spanish news agency quoted Albares as confirming that Spain wanted “relations with Algeria to be exactly the same”, as with all neighboring countries, and to be “based on friendship”. , mutual benefit, respect, sovereign equality and non-interference in internal affairs”.
This statement by Albares, came following his meeting with the Minister of Regional Policy, Isabel Rodríguez and officials of the autonomous communities to prepare for the Spanish presidency of the European Union in the second half of 2023, Albares said he had heard of a “normalization” of trade relations. The latter also added: “We hope that this will happen on the ground. »
On Friday, it was decided to lift the freeze on export and import operations to and from Spain, after around two months of trade freezes due to the diplomatic crisis between the two countries.
The Professional Association of Banks and Financial Institutions revealed, in a document sent to Algerian banks, that “the decrees prohibiting export and import operations to and from Spain, and prohibiting bank domiciliation, have been frozen”.
The decision to lift the freeze came 50 days after the publication of the document, in which foreign trade transactions between Algeria and Spain were frozen.