Brussels, 24/05/2007 (Agence Europe) - Ferid Tounsi, chief executive of the Arab-Mediterranean Free Trade Agreement, known as the “Agadir Agreement”, visited the European Commission on Wednesday and Thursday for technical discussion on the Euro-Mediterranean rules of origin scheme. This system determines the conditions in which cumulation of origin is possible to facilitate the free movement of products within the multilateral Euro-Mediterranean free trade area - the final goal of the Barcelona Process. The Agadir Agreement is a first attempt, supported and encouraged by the EU, at “South-South” free trade between partner countries.
Mr Tounsi's visit to Brussels marks the effective start of the Agadir Agreement, initiated in 2001 and grouping the Arab Mediterranean rim countries that signed EU association agreements (Egypt, Jordan, Morocco and Tunisia. Algeria and Lebanon are currently undergoing talks on accession to this agreement). The setting in place of technical structures for this economic community of the southern rim countries has gathered pace considerably over the past two months (since entry into force at the end of March). The first phase will be the setting in place of customs cooperation between the four countries. European support would take the form of joint training and study actions. The aim is to achieve elimination of the trade barriers and encourage investment between the signatory countries in parallel to that set out in the association agreements with the EU. “South-South” trade cooperation is one of the “keys of strategic partnership” with the EU and for the forming of a neighbouring market of “over 600 million people and a cumulated GDP of around €9.5 billion”, Mr Tounsi told EUROPE. “Trade should act as a vital accelerator for the region's development, thus contributing to stability and prosperity”, he added. (fb)