Algeria’s Professional Association of Banks and Financial Institutions (ABEF) banned its members from processing transactions for goods transshipped through Moroccan ports, with immediate and severe consequences. “ABEF has received a letter from the Ministry of Transport on the subject of goods imported through Moroccan Ports. Goods bound for major Algerian ports have usually been transshipped through Morocco’s Tanger Med, which is a massive container hub for international trade. Both carriers replaced Tanger Med as the transshipment port serving Algerian Ports, instead opting for the ports of Algeciras and Valencia. Some analysts warned that the Algerian decision would negatively affect its economy, since bypassing Moroccan ports would increase the cost of transportation and delivery time.

Source: The North Africa Journal February 05, 2024 08:57 UTC