Over the next 12 years, Algeria will be required to remove its import duties on EU products. The EU has agreed to immediate liberalisation for a number of Algerian farm products. Algeria already has duty and quota-free access to EU markets for its industrial exports. The partnership agreement will also enable Algeria to access further financial assistance from the European Commission.
‘The EU will stand by Algeria in its transition and development of the economic reforms on which it has embarked,’ Aznar said at the signing ceremony, which took place on the sidelines of the Euro-Med conference in Valencia on 22-23 April.