Minister Vanackere co-chairs EUROMED Conference of Trade Ministers
Minister of Foreign Affairs Steven Vanackere co-presided in the name of the rotating EU presidency today the 9th EUROMED Conference of Trade Ministers. This meeting was important as the EU and the Southern Mediterranean countries are strategic trade partners.
Euro-Mediterranean total trade amounted to almost €200 billion in 2009 (EU exports to Southern Mediterranean countries: €114 billion; Southern Mediterranean countries exports to the EU: €86 billion). This area represents almost 10% of total EU external trade, and more than 40% of total
Southern Mediterranean trade.
While trade relations are now governed by the Euro-Mediterranean Association Agreements concluded between the EU and each Southern Mediterranean partner (with the only exception of Syria), these agreements are now being complemented with a number of additional agreements.
- The EU aims to open up additional agricultural trade (negotiations have been concluded with Jordan, Israel, Egypt and Morocco; they are ongoing with Tunisia).
- The EU also aims to liberalize trade in services and establishment of service providers (negotiations are ongoing with Egypt, Morocco, Tunisia and Israel)
- The EU finally aims to establish bilateral dispute settlement mechanisms for trade matters.
A first protocol had already been signed with Tunisia and Steven Vanackere is pleased to announce that the EU and Egypt and Lebanon respectively have today also signed a bilateral agreement on dispute settlement. These agreements are very important steps forward in
setting-up a common legal framework between our countries, a significant step that will establish additional confidence for companies of the
countries of the Euromed region to engage in new trade initiatives and investment.
Minister Vanackere was particularly happy with the approval by the conference of measures that will facilitate Palestinian exports to the Euromed region. This entails inter alia better Israeli and Palestinian cooperation in the framework of their Joint Economic Committee with active EU backing. Technical cooperation will enhance Palestinian administrative capacities in terms of food security for example. This will help to diversify and increase exports from Palestine.
Steven Vanackere expressed confidence that in the foreseeable future we will be able to implement concrete initiatives to bring the Euro-Mediterranean trade partnership closer to economic operators. The constructive debate today focused on the implementation of such initiatives, which include establishing a Euro-Mediterranean trade and investment facilitation mechanism, reinforcing cooperation in the area of the fight against piracy and counterfeiting, and strengthening cooperation in industrial sectors of interest to both sides of the Mediterranean.
The Belgian Foreign Minister concluded that with today’s meeting we progressed towards a comprehensive en more solid Euro-Mediterranean Free Trade Area.
