Euro-Mediterranean meeting backs Arab-Mediterranean free trade area
Regional-European Union, Economics, 5/30/2001

The Euro-Mediterranean ministers of trade, who held an informal meeting here Tuesday, hailed the drive made earlier this month by Egypt, Jordan, Morocco and Tunisia to set up a free trade zone including Arab Mediterranean countries and which would also be open to other countries of the region.

The ministers who voiced appreciation for the progress made towards regional integration noted the European Commission's willingness to back the initiative to set up an Arab-Mediterranean free trade area and any other initiative geared towards regional integration.

The Brussels meeting expressed backing to a quick adhesion of Algeria and Lebanon to the World Trade Organization and hailed the coming signing of the association accord between the European union and Egypt. They also stressed the need to increase the flow of foreign investments in Mediterranean countries and to improve the sector of services in these countries through trading of experience and liberalization of services exchanges.

Ministers from Algeria, Cyprus, Egypt, Israel, Jordan, Lebanon, Malta, Morocco, Palestine, Syria, Tunisia, Turkey and the European Union agreed on the need to reach a gradual and reciprocal liberalization of agricultural products trade in line with the WTO regulations.

The ministers also agreed to meet again in 2002.

Moroccan minister of trade, industry, energy and mining, Mostapha Mansouri, who attended the meeting, told reporters here although the meeting was positive, the situation in the Middle east seriously hampers cooperation between the two shores of the Mediterranean.

He called on Israel to cooperate to establish peace and to recognize the Palestinian people right to freedom and independence so that they develop economic and trade relations with friendly neighboring countries.

Previous Stories:
  From MEDA I to MEDA II: what's new ?   (5/3/2001)
  Four Arab states hold meeting in Rabat to coordinate stands with European Union   (4/24/2001)
  European investments in the Arab states   (3/26/2001)

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