The Algerian-European partnership is set to deepen, with a focus on investment and industrial integration. EU Ambassador to Algeria Diego Miado Pascua stated that environmental, social, and governance (ESG) criteria have become essential in developing the economic partnership between Algeria and the EU. This development is expected to support investments and industrial and commercial integration between the two parties. The statement was made during the first edition of the Excellence, Sustainability, and Responsibility Summit in Algiers.
The summit, organized by Leancubator, was attended by Minister of Knowledge Economy, Startups, and Micro-Enterprises Nouredine Wahadi, along with several economic actors. Miado Pascua emphasized that ESG criteria are no longer just bureaucratic requirements but have become part of competitiveness and industrial strategies. These criteria extend to various stages of the value chain, from production and transportation to design and packaging. The EU Ambassador highlighted the importance of ESG in the economic relations between Algeria and the EU.
The application of ESG criteria can significantly impact Algerian companies' ability to integrate into international value chains and access the European market. Miado Pascua noted that the EU is willing to discuss deepening bilateral relations with Algeria, which have expanded beyond traditional trade. The partnership between Algeria and the EU is based on the Association Agreement and the European-Mediterranean Partnership. The EU Ambassador expressed his support for reviewing the Association Agreement.
Algeria has expressed interest in revising the Association Agreement. Miado Pascua stated that the EU is open to discussing ways to strengthen bilateral relations. The adjustment of the carbon border mechanism is one of the files that will increasingly affect trade relations, given the evolution of environmental standards applied to international trade. The EU Ambassador emphasized that environmental, social, and governance transition must be fair, equitable, and supportive.
The transition should include training, skills development, worker well-being, and social development. Miado Pascua noted that there are areas of convergence between Algeria and the EU in environment, innovation, and social issues. The EU Ambassador highlighted the importance of building an economic relationship that goes beyond traditional trade. He emphasized the need for joint projects, investments, and shared value chains.
Miado Pascua stressed that the goal is to establish a strong economic partnership that supports industrial projects, investments, and shared value chains. He identified several areas where Algeria and the EU can enhance cooperation and move forward with their partnership. The EU Ambassador's statement reflects the EU's commitment to strengthening its economic ties with Algeria.
The Algerian-European partnership is expected to expand into new areas, including environment, innovation, and social issues. The two parties are working towards a more integrated and sustainable economic relationship. The EU's emphasis on ESG criteria is expected to play a significant role in shaping the future of the partnership.
Key points
- The EU Ambassador to Algeria emphasizes the importance of ESG criteria in developing the economic partnership between Algeria and the EU.
- Algeria and the EU are set to deepen their partnership, focusing on investment and industrial integration.
- The EU is open to discussing ways to strengthen bilateral relations with Algeria, including reviewing the Association Agreement.
