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Trade Ministers Discuss Euro-Med Free Trade Area

by Ulrika Lomas, Tax-News.com, Brussels

11 November 2008

The Barcelona Process: Union for the Mediterranean ministerial conference was held recently to discuss co-operation between the European Union (EU) and Mediterranean countries in areas such as business and trade.

The meeting was held in Marseilles from November 3 to 4 and co-chaired by the French and Egyptian foreign affairs ministers, Bernard Kouchner and Ahmed Aboul Gheit.

Under discussion was the proposed establishment of a Euro-Mediterranean Free Trade Area. The European Union has announced that senior officials will present a Euro-Mediterranean Trade Roadmap in 2009. The emphasis so far has been on enhancing and diversifying trade, to encourage industrial integration and increasing European investment in the Mediterranean countries. The ultimate aim is the establishment of an ambitious, deep Euro Mediterranean free trade area by 2010.

The EU has also announced that bilateral negotiations with Egypt, Morocco, Tunisia and Israel on the liberalisation of trade in services and the right of establishment, launched in 2008, will continue in 2009. Regional consultations are also planned to ensure the transparency of bilateral negotiations and to prepare those Mediterranean partners with whom negotiations have not yet been launched.

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