Union for the Mediterranean Economic Forum Discusses Enhancing Regional Investment and Trade in Cairo
The Union for the Mediterranean Economic Forum began its sessions in Cairo with the participation of governments and the private sector to enhance economic integration and regional trade
Translated by Qiyas from كونا — Original source
Cairo, Oct 20 (KUNA) -- The Mediterranean Union Economic Forum kicked off today, Tuesday, with representatives of governments, the private sector, and development partners convening to discuss ways to enhance investment, facilitate regional trade, stimulate sustainable economic growth, and create jobs in the region’s countries. The forum is held in cooperation between the Union for the Mediterranean and the European Union, with support from the German Agency for International Cooperation (GIZ), as a preparatory step for the general summit scheduled to take place in Barcelona next month.
In an opening address, Maryam Diallo, First Deputy Secretary-General of the Union for the Mediterranean, said that hosting the forum in Egypt reflects the Union’s commitment to strengthening regional economic integration, facilitating trade and investment, and building stronger and more sustainable partnerships among the region’s countries. Diallo emphasized the importance of improving the business environment and empowering the private sector to turn shared challenges into opportunities for growth, employment, and sustainable development. She noted that investment is not limited to injecting capital and establishing projects, but also includes human capacity building, fostering innovation, and boosting production.
For her part, Ambassador Meltem Biyürek, Deputy Secretary-General of the Union for the Mediterranean for Economic Development and Employment, praised Egypt’s hosting of the forum and its role in enhancing economic cooperation in the Euro-Mediterranean region. Biyürek stressed the importance of advancing regional dialogue toward practical partnerships that provide companies in Egypt and across the Mediterranean with broader opportunities for investment, production, and exports. She considered that streamlining procedures and expanding access to finance and markets, in collaboration with the private sector, form the foundation for achieving sustainable growth and job creation.
In her remarks, EU Ambassador to Egypt Anja Eichhorst called for strengthening economic integration between the two shores of the Mediterranean, linking companies, investments, and regional value chains. She pointed out that the European Union accounts for 42 percent of the region’s total exports, making it the region’s top trading partner. Eichhorst explained that the region still holds vast economic and trade potential that can be harnessed through deeper cooperation and expanded links between markets and businesses.
Sessions of the forum, which runs until Thursday, will explore ways to improve the business environment and enhance the competitiveness of economies through regulatory reforms, simplification of procedures, and facilitation of trade and investment, as well as opportunities in regional value chains, the digital economy, and the information and communications technology sector. The discussions will also examine the role of the private sector in driving economic growth, creating jobs, and strengthening partnerships with the public sector, as well as the importance of regional cooperation in attracting sustainable investments and achieving more inclusive growth.
The outcomes of the forum’s discussions and side events will contribute to the preparation of a policy brief supporting regional dialogue on economic development and helping to identify ways to implement the EU’s Union for the Mediterranean Charter.
The forum will also feature workshops focusing on digital trade, e-commerce, and facilitation of cross-border transactions, as well as the revised Euro-Mediterranean Regional Agreement on Cumulation of Origin and its implementation, aimed at supporting trade and regional supply chains.
The Union for the Mediterranean is an intergovernmental organization bringing together EU member states and 16 countries from the southern and eastern Mediterranean, with the aim of enhancing regional cooperation and dialogue, and implementing projects and initiatives that support stability, human development, and economic integration. (End) M.M./S.M.A.
