8th meeting of the UfM Regional Platform on Trade and Investment

28 November 2024, Brussels, Belgium – The 8th meeting of the Union for the Mediterranean’s (UfM) Regional Platform on Trade and Investment took place on 28 November 2024 at the European Commission’s premises. The event brought together senior trade officials from across the region, along with various experts from the European Commission.

The meeting opened with speeches by Ms. Mercedes Bonet, Deputy Head of Unit for Southern Neighbours, Middle East, Turkey, Russia, and Central Asia in the Directorate-General for Trade at the European Commission, and Ms. Wafa Jiris, Director at the Ministry of Industry, Trade, and Supply of Jordan, who co-chaired the session.

Key regional initiatives were presented, focusing on three main areas: regional integration, sustainable trade, and sustainable investment.

Mr. Said Charna, Senior Economic Advisor at the UfM Secretariat, briefed participants on the Secretariat’s ongoing and upcoming events in trade and investment, including the 6th UfM Trade and Investment Forum and sustainable investment promotion training sessions.

Regarding regional cooperation, DG NEAR provided updates on EU-funded regional projects:

• Green economy aimed at promoting green and circular economy through actions at macro, meso, and micro levels.
• Digital Economy focused on developing digital trade in the region to enhance business opportunities and foster decent job creation.

DG TAXUD presented the current status and next steps for the revised rules of the PEM Convention, which will come into force on 1 January 2025.

In the area of sustainable trade and investment, DG TRADE outlined:

• The benefits and challenges of participating in the WTO Investment Facilitation for Development Agreement.
• The EU’s offer on Sustainable Investment Facilitation Agreements.
• The objectives and advantages of the WTO Joint Statement Initiative on E-commerce (eJSI) for both consumers and businesses.

Finally, participants agreed on a proposal to merge the UfM Trade and Investment Platform with the Industrial Cooperation Platform (managed by DG GROW) to improve efficiency and enhance synergies in addressing trade and industrial issues. This initiative will be presented to the Senior Officials of the Ministry of Foreign Affairs for final approval.

The next meeting of the Union for the Mediterranean’s Platform on Trade and Investment is scheduled for the first half of 2025.