ALGERIA, U.S. HOLD 6TH ROUND OF TRADE, INVESTMENT AGREEMENT TALKS

WASHINGTON, Algeria and the United States have held the 6th round of talks here on a bilateral Trade and Investment Framework Agreement (TIFA) to discuss various trade-related matters, including access to markets, protection of intellectual property rights and business environment.

The meeting also focused on a roadmap on trade and investment which will involve five key sectors — industry, energy, agriculture, trade and tourism.

Leading the Algerian multi-sectoral delegation was Cherif Omari,the Secretary General of the Trade Ministry, while the American side comprised officials of the Office of the US Trade Representative (USTR), which is the executive body of the US government responsible for trade policy at the bilateral and multilateral levels.

Inked in 2001 by the two countries, the TIFA aims to establish an annual economic dialogue and enhance business and trade between companies in both countries.

In 2016, Algeria became once again eligible for the US Generalized System of Preferences (GSP), a mechanism facilitating access of beneficiary countries’ products to the US market free of Customs duties.

This preferential regime, from which Algeria benefited for the first time in 2004, includes manufactured products, semi-finished products and certain agricultural, fisheries and craft products.

However, very few Algerian products are being exported to the US under this advantageous tariff regime.

Source: NAM NEWS NETWORK

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