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25/12/2007

Libya will participate in the agreement as an observer

Libya will participate in the agreement as an observer

 

EU: New free trade zone to be created for Southern Mediterranean countries by 2010

 

 

The Adviser Mag –Libya -      

 

The EU Trade Commissioner, Mr. Peter Mandelson, and trade ministers from Southern Mediterranean countries have agreed to develop a working party, with the aim of creating a free trade zone which will be in operation by 2010. The agreement was forged at the 6th EuroMed Trade Ministerial Conference, held in Lisbon on 20 October, according to the Spanish Federation of fruit and vegetable producers/exporters (FEPEX).

 

The new free trade zone will be established by two negotiation procedures: a “bilateral” agreement between EU members and every country in the Mediterranean area, and a “multilateral” agreement.

 

The countries that have signed the agreement are: Syria, Lebanon, Tunisia, Morocco, Israel, the Palestinian National Authority, Turkey, Algeria, Egypt, Jordan and Libya (as an observer).

 

Mr. Mandelson emphasised that this initiative will boost the Mediterranean area and will prevent it from dropping behind other geographic areas.

 

Source: tomatoestoday.com

 

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