Arab mediterranean countries sign FTA agreement
Regional, Economics, 1/14/2003

Foreign ministers of Morocco, Jordan, Egypt and Tunisia initialled in Amman on Saturday a Free Trade Agreement between the four Arab Mediterranean states to be enforced after it is officially signed by the four states' heads of state, provides for the creation of an FTA including Morocco, Jordan, Egypt and Tunisia as well as Arab Mediterranean states which will be part of it in the future.

The four countries will take gradual measures to set up a free trade area by year 2006 by virtue of the general accord on tariffs and commerce signed in 1994 and of other accords annexed to the one creating WTO.

The creation of the Arab Mediterranean FTA aims to promote economic activity and employment, and boost the performance and living standards in the states concerned.

The Arab states also convened to set up a commission including external commerce ministers that will convene once a year and will monitor the implementation of the FTA provisions.

The agreement was reached at the end of a meeting in Amman by experts of the four states to draft the final version of the accord after Morocco, Egypt, Tunisia and Jordan signed in May 2001 the Agadir Declaration, named after the reputed Moroccan coastal city. The Declaration stresses the four states' commitment to the establishment of a free trade area, with membership open for other Arab states.

Previous Stories:
  Morocco, Egypt, Tunisia, Jordan prepare final FTA version   (1/13/2003)
  An Arab anti- normalization conference in Damascus   (1/10/2003)
  Morocco's external commerce minister in Amman for a free trade meeting   (1/9/2003)

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