The Bank of Algeria issued a new coin for the occa-
sion.Worth200dinars andweighing 12 grams, it ismade
of copper, with aluminium and nickel.
Algeria, whose economy is reliant on petroleum, has
been an OPEC Member since 1969. Its crude oil produc-
tion stands at around 1.1 million barrels/day, but it is
also a major gas producer and exporter, with important
links to Europe.
Of the many tributes that flooded in, the President of
the European Parliament, Martin Schulz, stated: “I con-
gratulate the Algerian people on reaching this important
Algeria has overcome many challenges and hurdles
in its first 50years since independence. I would like topay
tribute to Algerian citizens who have never bowed when
faced with violence and terrorism— they have withstood
them with remarkable unity, dignity and courage.
This day should serve not only to draw a balance-
sheet of the past five decades since independence, but
it must also be an opportunity to reflect on the path
ahead for Algeria.”
Schulz said that the dynamismof Algerian
youth was the biggest unexploited reserve
of the country.
Responding to the aspirations of the
new generations, through the full participation to
economic and political life of the country, must remain
a national priority,” he maintained.
Schulz said that regional integration in the Maghreb
region would also favour an acceleration along the path
of growth, employment and stability.
The European Union warmly supports the recent
progress made in this direction,” he affirmed.
Schulzstressed thatthe recentlegislativeelectionsin
Algeria had marked a new stage in the country’s democ-
ratization process. In particular, he said, he welcomed
the tangible advancements made in the representation
of women in the People’s National Assembly.
OPEC bulletin 8–9/12
President Bouteflika lays a wreath at a monument commemorating the country’s freedom fighters, who lost their lives during the