Euromed: towards a liberalisation of services

This article is coming from "Europe Newsletter", an official initiative of European Union. Since the first time I read economical issues, I identified the European Union as a good opportunity for the development of Italy and in particular for the development of the South of the country.

The trip towards this development pass from the growth of the commerce and relationships in the Mediterranean area. Yes it's true, the political stability in this area is not the best one, but...I think this represent one of the key factor for development of the entire European Union, and for our country. I hope the new political government is coming soon in Italy, will keep more attention and will invest more on that direction.

Below you can find the article regarding some news in that field...that is going to reinvigorate the process we are talking about. Have you a nice reading...

"This is At the fifth Euro-Med Trade Conference wich took place in Marrakech on 24 March the European Union started negotiations with several Mediterranean countries on the liberalisation of services. According to Trade Commissioner Peter Mandelson, the launch of services negotiations with Egypt, Israel, Jordan, Lebanon, the Palestinian Authority and Tunisia will benefit economic growth and stimulate investment."
"Launching these services negotiations is an important milestone on the road to a Euro-Mediterranean Free Trade Area," he added.

The services sector is key to the economies of the Southern Mediterranean countries. Services account for about 50% of GDP in Egypt, Morocco and Syria and around 70% of GDP in Jordan and Lebanon, with Tunisia in-between at 60%. Nevertheless, services trade with the Mediterranean countries currently represents only 3.5% of the EU's total services trade. Services exports from the Mediterranean to the EU are for the moment focused heavily on tourism but there is real potential in a number of other sectors: financial services, telecommunication, distribution, energy, environmental services and transport.

Alongside the liberalisation of services, Ministers examined ways and means to reinforce south-south regional integration, strengthen regulatory convergence on industrial products, deepen agricultural liberalisation and improve the institutional and legal framework.
The aim is to create a Euro-Med Free Trade Area by 2010. Four months after the Barcelona Summit which marked the 10th anniversary of the Barcelona process, the Marrakech Ministerial comes at an important time. It aims to reinvigorate the Euro-Med process with an ambitious work programme in the trade area."

If you want to read more about Europa Newsletter, this is the website address: http://europa.eu.int/newsletter/index_en.htm

Take care