Calls to harmonize fiscal systems in Maghreb states

A group of Maghreban experts examined here Friday means to harmonize fiscal systems of the states member of the regional grouping (UMA- Morocco, Algeria, Tunisia, Mauritania and Libya), and consolidation of cooperation between them in fields such as statistics, customs and insurance.

The experts also discussed developments at the national, regional and international levels, said UMA secretariat general in a communique.

The meeting, held at the offices of the union's secretariat general examined recommendations of think tanks stemming from the council of Maghreb ministers of finance that will hold its coming meeting in Morocco.

The coordination meeting was also the occasion to probe practical measures in the organization of the constitutive assembly of the Maghreb bank for investment and foreign trade, based in the Tunisian capital.

The aim behind creating a Maghreban bank is to promote trade and mutual investments between UMA members.

Effective and full activation of the regional grouping is hampered by differences between the two main countries, Morocco and Algeria, over the Sahara known as the Western Sahara.

This former Spanish colony was retrieved by Morocco in 1975 under the Madrid Accords, but the separatist movement "Polisario," backed by Algeria, has ever since been claiming independence of this territory.