Algeria & EU Reaffirm Commitment to Deepen Ties for Common Space of Stability

Algeria and the European Union (EU) have reaffirmed Monday (14 May 2918) in Brussels their "attachment" to implement the shared priorities of partnership and the conclusions of the joint assessment of the Association Agreement.

In a joint declaration published following the 11th session of their Association Council, Algeria and the European Union underlined the "importance of the role of the civil society and the participatory democracy," voicing their keen interest for "sharing the experience" in these fields.

The EU has welcomed, in this regard, "the reforms" initiated by Algeria, following the 2016 Constitutional Revision and also stressed that the Algeria-EU partnership is based on the "shared principles of democracy."

Algeria and the EU are also committed to strengthening cooperation in the matter of the Algerian economy diversification, "particularly after the fall in oil prices since 2014".

Besides, the two parties hailed the adoption of a Unique Support Framework, which defines the priorities of the technical and financial cooperation for the period 2018-2020, in which the "support to diversified economy takes lion’s share."

The new financial cooperation program named “Unique support framework” (CUA) defines the priorities of bilateral technical and financial cooperation under the European Neighborhood Instrument (ENI) for the next two years.

During the Association Council, an agreement on the financing of the Agriculture Support Program (PASA) which aims at boosting some strategic crops for food security in Algeria has been signed.

On that occasion, Algeria and the EU have reaffirmed their willingness that "all the trade-relating measures are taken in accordance with the Association Agreement," underlining that this agreement "encompasses mechanisms that take into account the economic difficulties encountered by one of the two parties."

"The bilateral talks engaged in this matter are planned to be possibly finalized, before the end of the year," said the joint declaration.

In this context, the two sides recalled the importance of a business climate conducive to entrepreneurship and investment, and the direct investments as a means to strengthening their long-term relationship and their strategic partnership as well."