Algerian President Abdelmadjid Tebboune announced on Sunday that Algeria plans to create a free trade zone with Niger, followed by Tunisia and Libya, as part of efforts to combat price speculation.
He highlighted the success of a similar initiative with Mauritania.
In his weekly meeting with local media, Tebboune emphasised that Algeria is not currently considering joining any major economic blocs, focusing instead on building a robust economy that can withstand global fluctuations.
The Algerian leader underlined Algeria’s goal of achieving self-sufficiency, particularly in the production of essential goods like wheat and barley.
Additionally, Tebboune revealed Algeria’s intention to invest $1.5 billion in shares of the BRICS Development Bank. This comes after previous statements in which he expressed Algeria’s interest in joining the BRICS group, which seeks to reduce reliance on the US dollar in global trade.
However, Tebboune explained Algeria’s decision to delay joining the BRICS bloc, citing the opposition of some member countries. “Certain members obstructed our entry, but they have done us a favour, and our friends remain our friends,” he stated during the interview.
