Entrepreneurs are leading the way in bringing the northern and southern rims of the Mediterranean closer together, a collection of business success stories shows. The collection was compiled by the European Investment Bank, European Commission and ANIMA Investment Network (1) and will be presented to EU and Mediterranean finance ministers meeting in Brussels tomorrow. It shows that cooperation in the region is already an economic, social and human reality.

From a Spanish company hoping to harness the power of the sun in the Algerian desert, a Swedish-Danish dairy group investing in Lebanon to a Tunisian packaging company that has expanded in northern Europe, the publication “Boosting business in the Mediterranean” aims to demonstrate the mutual benefit that comes from the process of integration launched in Barcelona in1995.

In a joint statement, EIB Vice President Philippe de Fontaine Vive, European Commission Industry Commissioner Günter Verheugen and European External Relations Commissioner Benita Ferrero-Waldner said:  “In these times of economic uncertainty, cooperation between Europe and the Mediterranean is more important than ever. With a population of around 750 million, the Euro-Mediterranean market could help both sides face competition from other regions in the world, but trade and investment flows need encouraging. The European Neighbourhood Policy and Union for the Mediterranean aim to deepen and strengthen those ties by providing a political and financial framework for cooperation.”

The MedAlliance consortium of European and Mediterranean investment promotion agencies, business organisations and chambers of commerce organisations has identified (2) a number of sectors that could be of interest to both large companies and small and medium-sized enterprises (SMEs) for investment, including distribution, logistics, construction including housing, urban development and associated energy and environmental services. ANIMA President Laїla Sbiti said: “MedAlliance urges European companies to exploit these opportunities. The Mediterranean is not your problem, it is a chance!”

The initiative for the brochure was taken by Mr Fontaine de Vive at a meeting of Euro-Mediterranean industry ministers last November where it became apparent that successful private sector investments were little known outside the countries in which they had been made. The stories featured were chosen from among hundreds with the aim of reflecting the variety of economic sectors involved and the broadest possible representation of countries involved in the Union for the Mediterranean.

Copies of the brochure available on request from the European Investment Bank or European Commission.