Monaco, 14/11/2006 (Agence Europe) - On 9-10 November the European Investment Bank organised a meeting in Monaco of transport ministers from Southern Mediterranean rim countries that included senior officials and experts from the transport and financial sectors. The conference aimed to pool efforts from all neighbouring countries and private sectors involved in a global strategy for developing infrastructure. Representatives from the bank and most of the speakers, including the Commissioner for transport, Jacques Barrot (EUROPE 9304), affirmed that developing this sector was essential for assuring the credibility of the free trade zone project between the EU and its neighbours and, also to helping regional “South-South” integration. Professionals from this domain regard the priority as speeding up infrastructure development, notably for Hubs (off shore terminals) and extending Trans-European Networks for transport to the Mediterranean in an effort to tackle the expected expansion linked to increased trade between China and Europe and the West as a whole. According to the experts who spoke at the conference, a very significant part of the trade in development with China will transit the Mediterranean (Suez Canal). The silting up of ports in the Pacific will also encourage the Americans to use the Mediterranean as a route. In this way, the increase in trade between Russia and Asia (previously the Soviet Union) will increase transport flows, particularly freight through the Mediterranean. The emergence of trade in the Balkans being counted on will increase goods traffic in the Adriatic, which until now has been restricted to trade between Italy and abroad. Commissioner Barrot was very much present and made a lot of contributions to the debates. He also announced new Commission initiatives in this area. Ministers from the Southern rim and Italy also highlighted the increasing need for developing port infrastructure to meet the needs of the expected and substantial increase in traffic from maritime tourism (demand for cruises is an increasing trend). A presentation of the project for the big freight port in Tangiers (Morocco), which is one of the most important merchandise traffic hubs, as well as Algeciras and ports in Malta, was also made.
Almost all the speakers underlined that development had to be global and cover not just the ports but everything linked to their specific maritime activities. This also applied to the concept of the “hinterland” and one of the senior directors from the Italian railways presented the ambitious strategy devised by his country for linking ports to the main production and trade centres in his country, particularly the Milan-Rome-Naples axis. The Moroccan minister also underlined the need for a parallel development of European transport. His country is fully committed to the European “open sky” programme for which the signing of an agreement is in the offing.
The crucial question is that of funding, public but above all, private. The region does not lack money but private financiers need legal security and less political decisions regarding prices, affirmed several representatives from the financial sectors, who confirmed the current lukewarm nature of their commitment to investing in transport. However, the EIB stressed that “accomplishing the integrated transport and logistic system at a regional level would require substantial investment”. A recommendation made at the end of the conference called or “enhanced capacity of international financial institutions to take risks for funding infrastructures, indeed for the implementation of structures for guaranteeing 'the risk of legislation'”. There was also a recommendation for “facilitating operator access (private or mixed economy) to funding in local currency” and the “opening up of the financial markets to non-resident borrowers”. The EIB aims to pursue its traditional role via FEMIP, explained Philippe de Fontaine Vive, its vice president but also wanted to open a new chapter that would act upstream. This, he said, would be used to encourage the countries of the region to always plan projects with a regional perspective and avoid duplicating jobs and encouraging rivalry. The most often cited case is the trans-Magrebin motorway, with each country building national sections for the extension of the whole zone linking the main economic centres and major ports. (fb)