2024-08-22 20:18:56
ALGIERS – The Minister of Trade and Export Promotion, Mr. Tayeb Zitouni, stressed Thursday in Algiers the importance of a participatory approach between different ministries and public organizations for the success of the mission of the Monitoring and Early Warning Unit aimed at regulating market supply, with the goal of analysing the elements of market stability and protecting citizens’ purchasing power.
“The creation of the Monitoring and Early Warning Unit is part of the strategic foresight and economic monitoring as part of strengthening the participatory approach in policy making, by providing a dashboard based on real mechanisms to inform the government on climate and geopolitical changes, Mr. Zitouni said while addressing the launch of the group, which was composed of representatives of the Ministries of Commerce, Finance, Agriculture and Rural Development, Industry and Pharmaceutical Production, as well as members of the security forces.
He noted that the creation of this body, chaired by the Secretary General of the Ministry of Commerce, reflects the public authorities’ interest in market stability and protection of citizens’ purchasing power. The department’s mission is to identify and analyze market stability elements in terms of production and manufacturing capacities based on national needs, and to analyze plans for diversification of production and procurement sources based on a strict fiscal policy to support the measures to be taken.
Mr. Zitouni believes that mobilizing different sectors and participating organizations will “inevitably lead to the successful implementation of the National Food Security Strategy, the development of the national economy and effective sustainable development consistent with all social transformations.”
The Minister of Commerce stressed the need to address food security challenges and confirmed that this involves expanding measures taken to increase agricultural and industrial production, working to expand cultivated land, developing industrial products and establishing successful partnerships with foreign investors in order to align supply with demand.
The Minister of Agriculture and Rural Development, Youcef Cherfa, confirmed that this mechanism is a means of guaranteeing supply and price stability in the market, noting that the unit is part of the framework for the implementation of the Decree of the President of the Republic on the Food Security Strategy.
Speaking about the sector’s contribution to ensuring the supply of widely consumed agricultural products, the Minister recalled the implementation of several programs related to strategic crops, including cereals, oilseeds and sugar mills, through large-area projects in cooperation with the countries of the South, Qatar and Italy, in accordance with the directives of the President of the Republic, Mr. Abdulmajid Tebboune, which have enabled them to reduce their import bills.
After stressing the importance of market supply regulation mechanisms to stabilize commodity prices, the agriculture minister said it had coordinated with the Ministry of Commerce to allocate regulated warehouses for certain products, such as onions and garlic, to ensure “at least six months of market supply.”
The minister assured the existence of abundant pulses and cereals to meet national needs, as well as supplies for all processing plants, such as flour mills and dairies, and recalled that there are several projects, such as the new dairy in Algiers.
As for the Minister of Finance, he in turn confirmed that this Department, which is composed of several departments and organizations related to trade, “is able to ensure the effectiveness of its actions” and recalled the contribution made by the Department to the supply of the market with consumer goods.
He noted that the contribution comes in the form of fiscal grants through “different aid mechanisms to protect citizens’ purchasing power and achieve food security.”
Thus, Mr. Feder referred to the budget envelope allocated for the benefit of the commercial, agricultural and industrial sectors (manufacturers) during the current year, which includes DKK 120 billion to cover the compensation prices for refined edible oils and white sugar, as well as more than DKK 397 billion to the Algerian Interprofessional Grain Office (OAIC) to cover the difference in the selling price of grains, for a total of 98 million quintals.
The Finance Minister highlighted the government’s efforts to increase domestic raw milk production and reduce milk powder imports with a view to reaching 3.4 billion litres per year.
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