Import licensing system to be cancelled in 2018, announces Benmerradi
ALGIERS-The import licensing system, in force since 2016, wil be cancelled in 2018, announced Trade Minister Mohamed Benmerradi.
The import licensing system “showed its limits,” said the minister.
As for the reasons of behind this decision, Benmerradi said that the import licensing system “showed its limits. It is a bureaucratic system that lacks transparency” and sometimes causes supply problems.”
Speaking about car imports, which are also concerned by this measure as from 2018, Benmerradi stressed that the quantitative import contingents would be reinstated “if need be.”
Measures to regulate foreign trade will be taken in 2018 in order to protect national production and avoid a new surge in the import bill.
According to the minister’s predictions, imports are expected to reach $US 45 billion by late 2017 against $US 46.7 billion in late 2016.
The import bill is expected to decrease to $US 30 billion in 2018, said the minister.