Algiers — The President of the Republic, Abdelmadjid Tebboune, highlighted the importance of revising the partnership agreement with the European Union (EU), at a time when the Algerian economy is entering a new phase characterized by productive diversification.

During his regular media interview with representatives of the national press, broadcast Monday evening across national television and radio channels, the President of the Republic stated that Algeria's current economic position necessitates a review of the EU Association Agreement, which dates back to 2005.

He recalled that the original accord was signed under exceptional circumstances, at a time when the national economy relied almost entirely on oil exports.

He added that any updated agreement must account for the new capabilities of the Algerian economy, driven by its diversified industrial output. Citing the cement sector as an example, he noted that while Algeria imported 3 million tonnes in 2016, national production capacity has now surged past 40 million tonnes.

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President Tebboune noted that solid relations with nearly all European nations provide a foundation for launching the agreement's review process.

He added that during meetings with European leaders, including those of Spain and Germany, he emphasized the need for European markets to open further to Algerian goods.

In this regard, he pointed to the high quality of Algerian products, such as building materials, iron, agricultural produce, and processed foods, which makes them fully competitive in European markets.

He affirmed that Algeria's request was well-received by several European partners, foremost among them Italy.