Brussels, 08/10/2003 (Agence Europe) - Mediterranean countries and EU seek to enhance industrial co-operation. During a working group meeting in Rome on 2 and 3 October, the two parties adopted a policy agenda to promote investment, innovation, access to finance and the development of small and medium-sized enterprises (SMEs) across the EU and 12 south-east Mediterranean countries. This strategy is inspired by the line in the European Commission communication on the enlarged Europe adopted at the beginning of the year, which defined the strategy for candidate countries (EUROPE 13 march p 10). ). This work should be stepped up by the Euro-Mediterranean Charter for Entrepreneurship in 2004 and, according to the Commission, "along with progress in ensuring the free movement of goods, should help to pave the way to the creation of a free trade area between the EU and its Mediterranean partners by 2010".
Figures on investment and trade with and within the south-east Mediterranean show that its economic potential is still far from fully exploited. Apart from Israel, foreign direct investment (FDI) figures are very modest for countries such as Egypt (€ 444 million in 2001) or even Tunisia (€ 424 million), which is considered the most open economy in the Arab world. Total exports and imports between EU and Mediterranean countries stagnated for the past decade, at well below € 10 billion. Data on trade among the southern Mediterranean partners themselves are even more disappointing. In a European Commission press statement, the commission explains that, "that policy co-operation in the region is weak, and that protectionist attitudes have to be overcome".
The meeting has been co-organised by the Commission and the Italian authorities. Mr Antonio Marzano, the Italian Minister for Productive Activities, will open the meeting together with Mr Rachid Talbi El Alami, Morocco's Minister for Industry, Trade and Telecommunications.