ABEF provides information on new import regulation in Algeria

Algeria’s Association of Banks and Financial Institutions (ABEF) has provided information regarding the new import trade regulation, which is expected to come in force starting from January 1, 2020.

According to the document, importers in Algeria should prioritize operations on FOB basis over CFR basis purchases and give preference to the local shipping companies, while previously it was stated that those were mandatory. Therefore, the importers are encouraged to use national flags, give priority to the national carriers and contact the national ship owners before the execution of any import operation in order to verify the existence of the maritime links with the supplying country.

Importers in Algeria are advised to adopt FOB basis for the operations whenever possible. The ABEF notification states that if imports are performed on CFR basis, the related invoice must show the goods value, the freight and insurance amount separately.

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