France-Algeria: panic wind on import-export operations
A week ago, many French exporting companies wondered if they should stop their next shipments to Algeria. In fact, an unauthenticated document referring to a directive of the Association professionnelle des banques et des institutions financiers (Abef) would have circulated in the Algerian business community. The latter would announce Algeria's decision to refer to trade sanctions against France following the move of the French President to Morocco.
The rapid and massive questions raised by these rumours made French companies exporting to the Algerian market fear the worst. Trade between France and Algeria amounted to EUR 11.8 billion in 2023, and such a decision would have serious consequences for French and Algerian companies.
The fear generated prompted the Algerian government todenial of informationquickly. On the same day on 7 November, the Algerian authorities issued a statement denying the existence of trade sanctions against France.
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