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| INVEST IN THE
MEDITERRANEAN -
SELLING POINTS |
| Free trade zone associated with EU |
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| Adopted during the Euro-Mediterranean conference of November 1995, the Barcelona Declaration heralds the introduction, in the year 2010, of a vast free trade area between the European Union and twelve countries which line the Southern and Eastern shores of the Mediterranean . The objective is to make this new economic space one of the most dynamic markets on the planet. |
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| Photo : Casablanca |
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Casablanca
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Introduction |
Globalisation insists, today the time has come for the emergence of new regional economic groupings. The European economic space, situated at the crossroads of Europe, Africa and the Middle East, is without doubt one of the most promising. Up until 1995, the countries of the Mediterranean basin did not see their region as a coherent geopolitical space and really did not feel linked by a common destiny. But since this date, things have changed dramatically and it should not be forgotten that the Barcelona Declaration marked a decisive turning point in Euro-Mediterranean relations. |
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Favour investment and economic development |
In this context, the fifteen countries of the European Union and the twelve countries of the South and Eastern Mediterranean ( Algeria, Cyprus, Egypt, Israel, Jordan, Lebanon, Malt, Morocco, Palestinian Authority, Syria, Tunisia , Turkey ) have in fact planned for the creation in 2010 of an economic, political and cultural space which measures up to the strategic importance of the Mediterranean . With, as its target, the creation of a zone of peace and stability based on common principles and values, including democracy and respect for human rights; the development of a social, human and cultural partnership; but above all, the introduction of a common area of economic progress and prosperity based on free trade between the different European countries and their Mediterranean partners, as well as between the Mediterranean countries themselves. With the coming extension of the European Union, this market could in time group together no fewer than 40 countries and nearly 800 million consumers. If it is to follow the example of the construction of Europe, the success of the construction of the Mediterranean will above all draw upon its economic development. Based on the market economy and private initiative, the new free trade area should essentially cover the commercial trade between its different members within the respect for the obligations provided for by the World Trade Organisation (WTO) and thus profoundly modify the commercial relations between its different members. |
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A major standardisation and mise à niveau effort |
The first visible consequence, the tariff and non-tariff barriers in the trade of manufactured goods will be gradually eliminated according to schedules to be negotiated between the partners. In parallel, there will be a contribution towards the creation of a climate for the elimination of the obstacles to investment, especially in the banking domain, but also by introducing an institutional and regulatory framework appropriate for a market economy. Finally, the different health norms and environmental and technical standards should be harmonised so as to eradicate any form of disguised protectionism. In time, all the countries in the area will thus be able to count upon precious economic spin-offs and especially on:
- A reorientation of trade flows to the benefit of the States who are part of the free trade area;
- A greater influx of foreign capital, especially in direct private investments;
- A reorientation of the Mediterranean economies towards industry and the tertiary sector.
The creation of such a free trade area, should not be an end in itself, but rather a means of improving relations between the shores of the Mediterranean, of reducing social and economic disparities, of implementing sustainable development, of encouraging regional co-operation and enabling a better integration of the partner countries within the world economy. Such are the challenges of this project, the most ambitious ever imagined for the region since the great Empires... |
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