Mediterranean businessmen attend MED-ALLIA Forum in Tunis

2008-04-04

More than 500 French and south Mediterranean companies were in Tunis this week for a multi-sector business convention. The extensive participation of Maghreb firms was seen as an indicator of improved economic co-operation.

By Mona Yahia for Magharebia in Tunis – 04/04/08

[Getty Images] Speaking at the second MED-ALLIA business convention in Tunis, France's foreign trade secretary Anne-Marie Idrac said on Wednesday (April 2nd) that France was interested in developing economic partnerships with Mediterranean countries.

More than 500 firms from the sectors of food industries, consumer goods, mechanical industries, construction, infrastructure, technology and services, as well as some major French corporations, participated in the second French-Maghreb Partnership Forum for Development (MED-ALLIA) April 1st and 2nd in Tunis.

During a press conference, Anne-Marie Idrac, France's Secretary of State in Charge of Foreign Trade, said that France was interested in developing its economic partnership with the Mediterranean Sea countries.

Idrac announced that French President Nicolas Sarkozy will visit Tunisia before the end of April, and that "the Union for the Mediterranean project will guarantee a steady development of Euro-Mediterranean relations." Sarkozy will also discuss the Mediterranean Union project with his Tunisian counterpart President Zine El Abidine Ben Ali, as well as "ways to ensure more development of the partnership between Paris and Tunis."

The French official added that the Mediterranean Sea countries were invited to diversify economic co-operation, boost commercial exchanges and work together to promote this field.

Hedi Jilani, President of the Tunisian Union of Industry, Commerce and Handicrafts, called for the activation of Euro-Mediterranean co-operation tools, saying Maghreb businessmen can play an important role in establishing a Maghreb economic union.

Tunisian Chamber of Commerce President Fouad Lakhouda said the extensive participation by Maghreb firms in this forum is an indication of the importance of co-operation among the southern countries now that the Agadir Agreement has entered into force.

Walid Daoued, an Egyptian participant, told Magharebia he was eager to explore new opportunities revealed at the convention. "Inter-Arab and Maghreb trade exchange is still very limited, although the southern Mediterranean countries are supposed to be Europe's alternative to China."

"European countries tend to invest in China due to the low cost and large size of the Chinese market," he said, "although the Maghreb countries are closer to Europe in culture and geography, and there isn't a big time difference." Lamine Cherif, a commercial director from Mauritania, called for introducing customs facilities among the Maghreb countries in order to streamline the exchange of goods.

Tunisian Minister for Development and International Co-operation Mohammed Nouri Juini said before the People's Representatives Assembly that foreign direct investment in 2007 exceeded 2 billion dinars, representing 5.18% of total investments, and contributed to the creation of 20,000 job opportunities.

The Tunisian minister added that the major investment projects in Tunisia will generate 950,000 job opportunities over the next ten years, and will cut unemployment rates to 10 per cent.

The International Monetary Fund (IMF) noted in a report that development efforts in Tunisia helped to reduce unemployment from 14.3% in 2006 to 14.1% in 2007. IMF added that growth rates increased from 5.5% in 2006 to 6.3% in 2007, the highest for Tunisia in a decade.

On the sidelines of the forum, an agreement on the accession of the Amen Bank to the Mediterranean Network was signed.

This Mediterranean network, which also includes the Moroccan Agricultural Loan Corporation and banking institutions from around the Mediterranean Sea countries, aims at developing the activities of firms in 15 Mediterranean Sea countries.