Uma Free Trade Agreement

It is often pointed out that the border between Algeria and Morocco was closed from 1975 to 1986 and that the border between Libya and Tunisia was more often closed than opened from 1969 to 1988. This instability has recently resurfaced with the temporary ban on Algeria`s transit through its territory since 1992 and Libya`s impromptu introduction of import duties for Maghreb vehicles in October 1993. 27/ Morocco and Tunisia have also made considerable progress on macroeconomic adjustment and structural reforms. In recent years, they have recorded real growth rates of 4 to 5 per cent per year and reduced domestic inflation to about 5 to 6 per cent, compared with 20 to 30 per cent in Algeria and 10 per cent in Mauritania (Annex III, Chart 2). Both countries are members of the GATT and their average customs level has been reduced to 35 to 40%. They introduced the convertibility of the current account and made the commitments of Article VIII in accordance with the Articles of the Fund Agreement at the beginning of 1993. . .

Comments are closed.