Algeria stated this Saturday that trade relations with Spain “are exclusive prerogatives of the state and not from professional organizations, such as the Association of Banks and Financial Institutions (ABEF), “according to a note collected by the official APS news agency.
In this way, Algeria disavows the banking bosses ABEF that this Thursday, July 28, announced the lifting of the restrictions decreed on June 9 to suspend direct debits for foreign trade between the two countries, which blocked transactions.
ABEF (which brings together around thirty banks and financial establishments operating in Algeria) “is a professional association and defends the interests of its members“, picked up the note from the official agency.
Therefore, according to this note, “the complaints made, for the time being, by certain media about an alleged regression of Algeria in its commercial relations with Spain they are wrongbecause no official information has been made public in this regard by the competent authorities or institutions”.
The decision of the ABEF was taken after the suspension of the Treaty of Friendship on June 8 and blocked the merchandise in customs since June in addition to paralyzing the opening of new operations, although at that time the Government did not pronounce itself.
This Saturday, through the official news agency, he explained that “the decisions relating to financial and business matters that commit the State are taken by the Council of Ministers, by the Ministry of Finance or by the Bank of Algeria and are announced through official channels”.
Algeria defended this Saturday as “sovereign decision” the suspension of said treaty with Spain, and called “hasty” and “unfounded” the statements issued at the time by the European Union (EU) for the possible paralysis of trade and a violation of community agreements.
“The haste and bias of these statements highlight the inadequacy of their content, since it is a political disagreement with a European country of a bilateral nature that has no impact on Algeria’s commitments with the EU,” he declared in his time the Algerian Foreign Ministry.
Algeria and Spain live a unprecedented diplomatic crisis since Madrid took a turn in its policy on Western Sahara by supporting the proposal for autonomy for the former Spanish colony within Morocco, moving away from the historic position to hold a self-determination referendum.