Brussels, 26/11/2008 (Agence Europe) - The Facility for Euro-Mediterranean Investment and Partnership (FEMIP) brought together in Luxembourg on Tuesday 18 and Wednesday 19 November representatives of academia, the private sector, multilateral bodies and leaders of public administrations from both sides of the Mediterranean to discuss the theme of “Matching skills to market needs: the challenge for human capital in the Mediterranean Region” (see EUROPE 9784). Through its discussion of the major labour market challenges in partner countries, the seminar outlined the responses the FEMIP could bring.
Almost two thirds of the Mediterranean population is under 25. At a time when so many economies are facing severe difficulties related to their ageing populations, this is a tremendous asset, if openings can be provided for this labour force. The Mediterranean region is currently experiencing very high levels of unemployment and will have to create between 20 and 60 million jobs by 2020 simply to keep jobless rates at their current level. This human capital issue is now at the heart of political priorities: the Paris summit declaration made it one of the priority areas for action of the Union for the Mediterranean, foreign minsters meeting in Marseilles, then industry ministers meeting in Nice at the start of November, set out a raft of initiatives to enhance higher education, develop entrepreneurship and vocational training. This commitment was repeated by employment and labour ministers in Marrakesh on 9-10 November.
Against this background, the seminar in Luxembourg put forward four major priorities for FEMIP action: 1) investing in human capital and increasing FEMIP funding for education and vocational training, using the experience acquired by the bank within the EU - the FEMIP could, for example, support the construction of vocational training centres with the support, where necessary, of technical assistance funded by the Community budget; 2) investing in innovation, with greater targeting of investment funding for start-ups, including through the FEMIP trust fund, the aim being to attract private investors; 3) de-compartmentalising reflection on human capital in order to bring in all stakeholders: Education and Research Ministries, Employment and Training Ministries, entrepreneurs and employers, professional associations and financial backers - through its network with entrepreneurs and chambers of commerce, the FEMIP could act as a link between political decision-makers and entrepreneurs; 4) encouraging the demand for labour through support for SMEs, especially family firms which should be creating more employment - this issue will be considered at the next FEMIP conference, on SMEs, in Rabat next March. (O.L./transl.rt)