With European Commissioner for Trade Valdis Dombrovskis presiding, trade ministers from countries in the Union for the Mediterranean met on Tuesday, 10 November, with the aim of strengthening trade relations in the Mediterranean region. The 42 member states have agreed to launch three new trade and investment initiatives supported by the EU.
The first intends to continue towards the second phase of the Trade and Investment Facilitation Mechanism (TIFM) in the Euro-Mediterranean region. This one-stop-shop system was set up to provide information on market access in the region.
Along the same lines, the two other initiatives in partnership with the International Labour Organization (ILO) and the Organisation for Economic Co-operation and Development (OECD) should help ensure that all Mediterranean partners can take advantage of the market opening.
With a total value of €11 million, these three initiatives have the overarching objective of encouraging a more inclusive economy in the region by strengthening the role of trade.
See the full statement of the 11th Union for the Mediterranean (UfM) Trade Ministerial Conference: https://bit.ly/36p4wAb (Original version in French by Léa Marchal)