Algeria, EU Hold Talks to Revise ‘Partnership Agreement’

Former Foreign Policy Representative in the European Union Josep Borrell meets with Algerian President Abdelmadjid Tebboune. (Algerian Presidency file photo)
Former Foreign Policy Representative in the European Union Josep Borrell meets with Algerian President Abdelmadjid Tebboune. (Algerian Presidency file photo)
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Algeria, EU Hold Talks to Revise ‘Partnership Agreement’

Former Foreign Policy Representative in the European Union Josep Borrell meets with Algerian President Abdelmadjid Tebboune. (Algerian Presidency file photo)
Former Foreign Policy Representative in the European Union Josep Borrell meets with Algerian President Abdelmadjid Tebboune. (Algerian Presidency file photo)

Algeria and the European Union last week launched the first round of talks aimed at reviving their 20-year “Partnership Agreement.”

The talks were initiated at the request of Algiers.

The Delegation of the European Union to Algeria said on Friday that a delegation headed by Florian Ermacora, head of the North Africa Unit at the Directorate-General for Neighborhood and Enlargement Negotiations of the European Commission, paid a working visit to Algeria from January 27 to 30.

The delegation met with representatives of several Algerian ministerial departments, including Foreign Affairs, Energy and Mines, Water Resources, Industry, Trade and Finance. The European officials were also received at the Algerian Investment Promotion Agency (AAPI).

In addition to the EU Neighborhood department, the delegation included representatives from the EU departments for Energy, Home Affairs, Migration and Foreign Affairs.

Discussions focused on future cooperation between the EU and Algeria in the fields of investment, trade facilitation, renewable energy, migration, culture and job creation.

During the visit, Head of the North Africa Unit, EU Directorate-General for Neighborhood and Enlargement Negotiations Florian Ermacora reaffirmed the EU's willingness to give new impetus to cooperation between Algeria and the European Union in the context of the development of a new pact for the Mediterranean, the EU mission said.

It noted that the visit aims to hold consultations on cooperation between the European Union and Algeria for the period 2025-2027.

The new Agenda for the Mediterranean was launched by the European Union in 2021 to strengthen the strategic partnership with its Southern Neighborhood partners in trade and renewable energies, upgrading facilities and infrastructure, and managing migration and counter-terrorism issues.

The European delegation's visit was not announced by Algerian officials.

Also, the statement issued by the EU delegation did not mention whether talks with representatives of the Algerian ministries addressed the country’s request to revise its partnership agreement with the EU and to rebalance the mutual interests of the two parties.

In late 2024, ambassador of the EU in Algeria Diego Mellado Pascua said 2025 could be a very important year for both parties to consult on their mutual relations within a comprehensive framework.

Last June, the EU said it launched a dispute settlement case against Algeria and requested consultations with Algerian authorities to address several restrictions imposed on EU exports and investments.

“The EU considers that, by imposing these trade restrictive measures since 2021, Algeria is not respecting its trade liberalization commitments under the EU-Algeria Association Agreement,” it said in a statement.

The EU’s aim is to engage constructively with Algeria with a view to removing the restrictions on several market sectors, spanning from agricultural products to motor vehicles.

These include an import licensing system with the effects of an import ban, subsidies contingent on the use of local inputs for car manufacturers, and a cap on foreign ownership for companies importing goods in Algeria.

A European diplomat in Algeria, who declined to be named, told Asharq Al-Awsat that the EU is seeking to assess Algeria's prospects and the extent to which the agreement can be modified.

He said the statistical office of the European Union, Eurostat, confirms that Algeria's exports to the 27 Member States of the Union amounted to 18.747 billion euros and its imports from these countries were around 12.648 billion euros.



Gold, Silver Hit Records and Stocks Fall as Trump Fans Trade Fears

(FILES) A jeweler shows gold and silver bars at his shop in downtown Kuwait City on January 12, 2026. (Photo by YASSER AL-ZAYYAT / AFP)
(FILES) A jeweler shows gold and silver bars at his shop in downtown Kuwait City on January 12, 2026. (Photo by YASSER AL-ZAYYAT / AFP)
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Gold, Silver Hit Records and Stocks Fall as Trump Fans Trade Fears

(FILES) A jeweler shows gold and silver bars at his shop in downtown Kuwait City on January 12, 2026. (Photo by YASSER AL-ZAYYAT / AFP)
(FILES) A jeweler shows gold and silver bars at his shop in downtown Kuwait City on January 12, 2026. (Photo by YASSER AL-ZAYYAT / AFP)

Gold and silver prices climbed to fresh peaks on Monday, as investors poured into safe-haven assets after US President Donald Trump threatened to impose extra tariffs on European countries over the control of Greenland.

Spot gold jumped 1.6% to $4,666.11 as of 0551 GMT, after scaling an all-time high of $4,689.39.

US gold futures for February ‌delivery advanced 1.7% ‌to $4,671.90 per ounce.

On Saturday, Trump vowed ‌to ⁠implement a wave ‌of increasing tariffs on European allies until the United States is allowed to buy Greenland, escalating a row over the future of Denmark's vast Arctic island.

European Union ambassadors are preparing retaliatory measures should the duties go ahead, EU diplomats said.

"Geopolitical tensions have given gold bulls yet another reason to push the yellow metal to new highs," StoneX ⁠senior analyst Matt Simpson said.

"With Trump throwing tariffs into the mix, it is clear ‌that his threat to Greenland is real, and ‍that we could be one ‍step closer to the end of NATO and political imbalances ‍within Europe."

US stock futures and dollar slid as Trump's latest tariff threats raised investors' appetite for safe-haven gold, yen and Swiss franc, in a broad risk-averse move across markets.

Spot silver climbed 3.6% to $93.15 per ounce, after hitting a record high of $94.08.

"On silver, the medium-term narrative remains constructive, supported by persistent physical deficits, resilient industrial demand and safe-haven ⁠demand," said Christopher Wong, a strategist at OCBC.

"But the pace of the recent extension may warrant some near-term tactical caution," Wong said, noting that the gold-silver ratio declined sharply from highs near 105 in late 2025 to low-50s, signaling silver's outsized performance versus gold.

J.P. Morgan analysts said that they have a stronger preference for gold relative to silver as any disruptive correction in silver could have some near-term contagion into gold but still presents a buying opportunity in gold which continues to have a cleaner, bullish structural story.

In other precious metals, ‌spot platinum added 0.6% to $2,341.08 per ounce, while palladium rose 0.1% to $1,801.87.


Saudi Arabia in Davos: Participation in Dialogues on World Economy, Geopolitical Changes

This photograph taken on January 18, 2026 shows a view of the Alpine resort of Davos with the Congress Center that will host the World Economic Forum (WEF) annual meeting. (Photo by Fabrice COFFRINI / AFP)
This photograph taken on January 18, 2026 shows a view of the Alpine resort of Davos with the Congress Center that will host the World Economic Forum (WEF) annual meeting. (Photo by Fabrice COFFRINI / AFP)
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Saudi Arabia in Davos: Participation in Dialogues on World Economy, Geopolitical Changes

This photograph taken on January 18, 2026 shows a view of the Alpine resort of Davos with the Congress Center that will host the World Economic Forum (WEF) annual meeting. (Photo by Fabrice COFFRINI / AFP)
This photograph taken on January 18, 2026 shows a view of the Alpine resort of Davos with the Congress Center that will host the World Economic Forum (WEF) annual meeting. (Photo by Fabrice COFFRINI / AFP)

The Saudi delegation led by Minister of Foreign Affairs Prince Faisal bin Farhan bin Abdullah is gearing up to participate in the World Economic Forum (WEF) Annual Meeting 2026 in Davos, Switzerland, from Monday to January 23.

This year’s forum, themed "A Spirit of Dialogue," comes amid swift changes in the world and geopolitical challenges.

Alongside Prince Saisal, the delegation includes Saudi Ambassador to the US Princess Reema bint Bandar bin Sultan bin Abdulaziz, Minister of Commerce Majid Al-Kassabi, Minister of Tourism Ahmed Al-Khateeb, Minister of Investment Khalid Al-Falih, Minister of Finance Mohammed Aljadaan, Minister of Communications and Information Technology Abdullah Alswaha, Minister of Industry and Mineral Resources Bandar Alkhorayef, and Minister of Economy and Planning Faisal Alibrahim.

Prince Faisal had said that the Kingdom’s participation demonstrates its commitment to international cooperation in addressing economic challenges.

He stressed the importance of maintaining regional peace, supporting sustainable development, and enhancing global economic partnerships.

Prince Faisal also highlighted the importance of public-private collaboration to achieve prosperity and security.

He noted that the Kingdom is broadening cooperation with international partners to better confront economic and environmental challenges while focusing on building institutional and human capacities to adapt to rapid transformations.

Al-Falih will speak in a session titled “AI Power Play, No Referees.”

Prince Faisal is set to speak in “Realignments and Surprises in the Middle East” and “All Geopolitics Is Local.”

Alkhorayef will be a speaker in a session called “Geopolitics of Materials,” while AlKhateeb will participate in the session on “Experiencing the World.”

Alibrahim will participate in the discussion panel "Economies Beyond the Shock Cycle," while Al-Kassabi will speak in a session titled “Many Shapes of Trade” and Alswaha is set to speak at “Converging Technologies to Win.”

Aljadaan and Alibrahim will also participate in the concluding “Global Economic Outlook” session.


World Markets Face Fresh Jolt as Trump Vows Tariffs on Europe Over Greenland

A photo shows containers and transshipment at Maasvlakte, an industrial area in the port of Rotterdam, on July 21, 2025. (AFP)
A photo shows containers and transshipment at Maasvlakte, an industrial area in the port of Rotterdam, on July 21, 2025. (AFP)
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World Markets Face Fresh Jolt as Trump Vows Tariffs on Europe Over Greenland

A photo shows containers and transshipment at Maasvlakte, an industrial area in the port of Rotterdam, on July 21, 2025. (AFP)
A photo shows containers and transshipment at Maasvlakte, an industrial area in the port of Rotterdam, on July 21, 2025. (AFP)

Global markets face a fresh bout of volatility this week after President Donald Trump vowed to slap tariffs on eight European nations until the US is allowed to buy Greenland.

Trump said he would impose an additional 10% import tariffs from February 1 on goods from Denmark, Norway, Sweden, France, Germany, the Netherlands, Finland and Britain, which will rise to 25% on June 1 if no deal is reached.

The eight European states issued a joint statement backing Greenland on Sunday, while Ireland's prime minister said the European Union will retaliate if US tariff threats against Europe materialize.

"Hopes that the tariff situation has calmed down for this year have been dashed for now - and we find ourselves in the same situation as last spring," said Berenberg chief economist Holger Schmieding.

Sweeping "Liberation Day" tariffs in ‌April 2025 sent shockwaves ‌through markets. Investors then largely looked past Trump trade threats in the second ‌half ⁠of the year, ‌viewing them as noise and responding with relief as Trump made deals with Britain, the EU and others.

While that lull might be over, market moves on Monday could be dampened by the experience that investor sentiment had been more resilient and global economic growth stayed on track.

Nonetheless, Schmieding expected the euro could come under some pressure when Asian trade begins. The euro ended Friday at around $1.16 against the dollar, having hit its lowest levels since late November.

Implications for the dollar were less clear. It remains a safe haven, but could also feel the impact of Washington being at the center of geopolitical ruptures, as it did ⁠last April.

"For European markets it will be a small setback, but not something comparable to the Liberation Day reaction," Schmieding said.

European stocks are trading near record ‌highs, with Germany's DAX and London's FTSE index up more than 3% this ‍month, outperforming the S&P 500, which is up 1.3%.

European defense ‍shares are likely to benefit from geopolitical tensions. Defense stocks have jumped almost 15% this month, as the US ‍seizure of Venezuela's Nicolas Maduro fueled concerns about Greenland.

Denmark's closely managed crown will also likely be in focus. It has weakened, but rate differentials are a major factor and it remains close to the central rate at which it is pegged to the euro and is not far from six-year lows.

"The US-EU trade war is back on," said Tina Fordham, geopolitical strategist and founder of Fordham Global Foresight. Trump's latest move came as top officials from the EU and South American bloc Mercosur signed a free trade agreement.

'UNTHINKABLE SORTS OF DEVELOPMENTS'

The dispute over Greenland is just one hot ⁠spot.

Trump has also weighed intervening in unrest in Iran, while a threat to indict Federal Reserve Chair Jerome Powell has reignited concerns about its independence.

Against this backdrop, safe-haven gold remains near record highs.

"Markets at this point are expected to reopen this week in 'risk-off' mode," said IG market analyst Tony Sycamore.

"This latest flashpoint has heightened concerns over a potential unravelling of NATO alliances and the disruption of last year’s trade agreements with several European nations, driving risk-off sentiment in stocks and boosting safe-haven demand for gold and silver."

The World Economic Forum's annual risk perception survey, released before its annual meeting in Davos, which will be attended by Trump, identified economic confrontation between nations as the number one concern replacing armed conflict.

While investors have grown increasingly wary of geopolitical risk, they have also become used to it to some extent.

"Investor sentiment has proven quite resilient in the face of the sort of continuing unthinkable sorts of developments, which probably reflects a combination of like faith that Trump just won't ‌be able to do all of the things that he talks about mixed with a sense that none of this kind of moves the needle on asset prices," said Fordham.