Econostrum | Economic News in the Mediterranean

The countries of the Union for the Mediterranean call for a strengthening of trade ties in the region

Written by Frédéric Dubessy on Tuesday, November 10th 2020 à 17:25 | Read 206 times

The UfM calls for the development of Euro-Mediterranean trade - Here the port of Tangier Med and the Rock of Gibraltar (photo: F.Dubessy)
The UfM calls for the development of Euro-Mediterranean trade - Here the port of Tangier Med and the Rock of Gibraltar (photo: F.Dubessy)
MEDITERRANEAN. In a videoconference on Tuesday, November 10, 2020 on the occasion of the 11th Ministerial Conference on Trade, representatives of the forty-two member countries of the Union for the Mediterranean (UfM) called for the strengthening of trade ties in the Euro-Mediterranean area. They consider it indispensable for the regional economic recovery hit by the Covid-19.

This meeting, which only takes place every two years, prepares the Trade and Investment Forum of the UfM which will take place, also virtually, on Thursday, November 12, 2020.

In the statement issued, the ministers noted that "measures to combat the pandemic should not affect trade in agri-food and fisheries products, which would ultimately have negative effects on food security, nutrition and health of their populations". According to them, the adoption or maintenance of trade restrictive measures by UfM members to ensure their own food security could create imbalances in international markets and lead to a crisis of food insecurity due to the disruption of global and regional agricultural trade supply chains".

Solidarity and effective cooperation

"I strongly encourage businesses on the northern and southern shores of the Mediterranean to take greater advantage of the trade, investment and economic opportunities offered by this regional partnership," said Valdis Dombrovskis, Executive Vice-President of the European Commission and Commissioner for Trade.

For Maha Ali, Jordan's Minister of Industry, Trade and Supply, "the unprecedented social and economic vulnerabilities of the region, aggravated by the Covid-19 pandemic, call more than ever for solidarity and effective cooperation to address pressing problems, with particular attention to the southern shore of the Mediterranean. Jordan is ready, as co-president of the UfM, to work with the EU and the countries of the southern Mediterranean to promote regional sustainable development in the framework of the Union for the Mediterranean".

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