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Sonatrach will refine its petroleum in Italy

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Sonatrach signed a processing contract on Monday January 15th with an Italian refinery to refine its petroleum before repatriating it. This option should allow Algeria to reduce its invoice for imports of refined products, promises the national company. The CEO of Sonatrach, Abdelmoumen Ould Kaddour, explained earlier this week that this operation was to rent the equipment of the Italian refiner on site to carry out refining operations in Italy. Lack of sufficient infrastructure to meet the growing demand internally, Algeria has been forced in recent years to import petroleum products. The country now imports more than 15 million tons of fuel per year, compared with local production of 11.5 million tons. After spending $ 800 million on fuel imports in 2016, Algeria tripled its spending in 2017 ($ 2.5 billion). “Our goal is to reduce our fuel imports, they are too high”, Ould Kaddour told reporters on Tuesday. Algeria “can not continue to import $ 2 billion a year in petroleum products”, says the CEO of Sonatrach.

9th Subcommittee on Trade, Industry, Customs and Taxation between Albania and the European Union

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In Brussels took place the 9th Subcommittee meeting on Trade, Industry, Customs and Taxation between the European Union and Albania. On this occasion, is taken into consideration the progress achieved by Albania, in particular regarding the alignment of national legislation with the European acquis. Albanian representative illustrated progress on the removal of restrictions on the free movement of goods, and on measures to facilitate tax procedures. They also informed about ongoing negotiations on trade agreements with third countries, presented an update concerning industrial policies, including support for small and medium-sized enterprises (SMEs), as well as providing information with regards on measures to improve the business environment in line with Albania’s commitments under the Economic Reform Programme (ERP). As reported by Albanian Daily News, the Commission looked positively the increase of Albania exports to EU and welcomed measures to align legislation to the European acquis as well as the adoption of the CEFTA Additional Protocol 5. Thus, the Commission encouraged the government of Albania to further proceed in the engagement with CEFTA, the participation in COSME, and the Tourism Strategy.

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The El-Sisi’s balance of the past four years

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In a speech at the ‘Story of a Nation’ event, held at Cairo Masa Hotel under the auspices of the president, El-Sisi made a general balance over the past four years in order to inform the country of his achievements in economic and social sectors and of the challenges facing the country. The President stated that that 11,000 national projects have been implemented in the country, with an average of three projects a day. He also said that the economic reform programme started in 2014 improved all economic indicators, adding that in the war against terrorism the sacrifice of Armed Forces and police was decisive in this fight. El-Sisi spoke also about the important role of Egypt in the Arab Region, stressing that the decision of the country are totally independent.

Saudi’s financial aid to Yemen

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In order to “alleviate the suffering” of Yemeni people, Saudi King Salman has issued a directive to transfer $2 billions to Yemen’s Central Bank. This action would help Yemen’s economic and financial situation by bolstering the Yemeni riyal. The transfer, that brings the total amount of Saudi financial aid to the Yemen’s central Bank to $3 billion, is directed to ameliorate the living condition of the civil population. By official statement, this contribution will help the country to “cope with economic burdens resulting from the crimes and violations committed by Iranian-backed Houthi militias”. Indeed, Houthi rebels are accused of looting the state, taking control of government revenues, including those generated from oil and its derivatives. Their actions throughout the country are the vector of misery and destruction, thus damaging the lives of Yemenis for several years ahead.   Doing so, Saudi Arabia has also reaffirmed the support for the Yemeni Government and stated that the Kingdom will continue to assist Yemen in its efforts to restore security and stability. Meanwhile Yemen’s president Hadi extended his thanks to Saudi Arabia’s King for the generous gesture to alleviate the suffering of the Yemeni people.

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FAO, Agriculture Development Project

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The United States Agency for International Development (USAID), in partnership with the Food and Agriculture Organization of the United Nations (FAO) have launched the Promoting Value Chains–West project, a statement from the USAID said on Tuesday. The project will increase the ability of producers and it will help the link between farmers to markets, both domestic and international. This will promote inclusive growth and job creation in the agricultural sector. Improving agricultural value chains would provide great potential for economic growth. The three-year project will support sustainable agribusiness and livestock development by increasing wheat productivity, improving production and profitability of high value crops, enhancing technology utilization in the livestock industry. Project beneficiaries would include small and medium enterprises (SMEs), input suppliers, private service providers, traders, millers and processors, and producer groups.

Jean-Yves Le Drian, Minister of Europe and Foreign Affairs, meets the Minister of Foreign Affairs of the Republic of Azerbaijan, Mr. Elmar Mammadyarov

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France has a continuous dialogue with Azerbaijan, the main economic partner in the South Caucasus. Azerbaijan wants to diversify its economy, the exchanges will make it possible to take stock of projects involving French companies, particularly in the fields of energy, transport, environment, urban development and tourism.
The ministers will also discuss relations between Azerbaijan and the European Union, regional security, as well as the settlement process of the Nagorno-Karabakh conflict. Mr Jean-Yves Le Drian will insist on the importance of implementing the decisions taken by the Armenian and Azerbaijani Presidents during their meeting in Geneva on October 16, 2017. He will assure his counterpart of France’s full commitment to the efforts of co-chairing the Minsk Group to find a negotiated and lasting solution to the conflict.

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The sixth meeting of the Egyptian-Ethiopian Higher Committee after a three-years impasse

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In an official statement the Egyptian foreign minister Sameh Soukry announced his participation at the sixth meeting of the Egyptian-Ethiopian Higher Committee after three years of impasse. The talks will discuss the bilateral economic, social and artistic relations, and also regional and international developments. In addition the foreign ministers of the two countries will set the encounter between the President El-Sisi and the Ethiopian Prime Minister Hailemariam Desalegn. In recent years there have been strained tensions within the relation between Egypt and Ethiopia, because of the Grand Renaissance Dam. It is a situation of concern to Egypt despite assurance from Ethiopia that the dam will not damage the other counties.

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Xi Jinping calls on Donald Trump to revive economic dialogue programme

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In their first phone conversation this year Chinese President Xi Jinping told US President Donald Trump to resume talks to improve economic ties between the two nations, both countries should take “constructive measures” to open their markets to each other and “broaden cooperation” to address their trade and economic issues.
The request arrives while tensions rise over the huge imbalance in Sino-US trade.
China’s trade surplus with the US in fact grew to a record US$275.8 billion in 2017, counter to Trump’s goal of narrowing the US trade deficit with China.

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Balkan crises could be solved by the return of Yugoslavia

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According to British journalist Neil Clark, the cause of the crises that are crossing the Balkans lately is not to be sought into Russian politics, but in the breakup of Yugoslavia. The latter, according to Clark, granted economic stability and safety to Balkan countries. A survey conducted in 2017 showed how most of the respondents from BiH, Montenegro, Serbia, and Macedonia considered the collapse of Yugoslavia as a negative event. Clark also affirms how, today, instead of an economically strong and stable country, there are a series of small and weak states. This situation can be solved only through the gradual reconstruction of a Yugoslav Federation.

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Sharper State divide in Congress seen as ‘New Civil War’

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A potential backlash from the new tax law and President Trump’s unpopularity in Democratic-leaning states could combine to turn swaths of blue America even bluer in this year’s elections, a development likely to deepen already intense polarization in Congress. Recent retirement announcements of two senior House Republicans from California put control of their seats in jeopardy and, coupled with some recruiting failures, exacerbated Republican fears of steep midterm losses. The prospect of multiple Republican defeats in California as well as New York and New Jersey threatens to diminish the already thinning ranks of more centrist Republicans.

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