By NNN-KUNA,
Algiers : Algiers has agreed to exempt Palestinian goods from custom duties upon entry at Algerian ports.
Algerian Minister of Trade Al-Hashemi Jaaboub and Palestinian Economy Minister Mohammad Kamal Hassouneh signed on Sunday an agreement under which Palestinian goods would be exempted from customs duties.
The agreement aims at backing the Palestinian economy by exempting goods of Palestinian origin from custom tariffs in compliance with the 2000 Arab Summit.
Jaaboub said in a statement the agreement reflected Algeria’s “historic commitment” towards the Palestinian cause.
He said Algeria is seeking to establish a business council with the Palestinians to upgrade trade exchange and investments in the various sectors like pharmaceuticals and tourism.
Hassouneh said the agreement would be of great benefit for the Palestinian economy.
Trade exchange between Algeria and the Palestinian Authority was registered at USD 2.5 million in 2007.