6th UfM Trade and Investment Forum
7 November 2024, Rabat, Morocco – The Secretariat of the Union for the Mediterranean, with the support of the German Development Cooperation, will be holding the 6th UfM Trade and Investment Forum on 7 November 2024 in Rabat, Morocco.
Global trade and investment is increasingly connected to carbon emissions. While accelerating trade over land and across maritime routes has translated into a larger carbon footprint, trade remains crucial for the exchange of resources and products necessary for the green transition. The climate crisis and its multiple repercussions raise questions about the ways in which trade can contribute to reducing carbon emissions and contribute to the zero-net-emission goal. At the same time, this opens new opportunities for sustainable investment and green growth.Turning climate and environmental challenges into opportunities is becoming fundamental, and in the EU there is an example of a comprehensive strategy, notably the European Green Deal, aimed at making the EU’s economy more sustainable.
To support the green transition, robust policy frameworks in trade and investment are essential. These frameworks should promote sustainable production practices and incentivize green investments. Collaboration with South and East Mediterranean countries is crucial, as together we can play a significant role in the green transition through renewable energy projects, green industry and manufacturing and sustainable agricultural practices. Strengthening trade relations and investments in green technologies can foster mutual economic growth while addressing climate change and other environmental challenges. The role of the private sector is crucial to address challenges, seize opportunities and make this transition a reality.
In the Joint Statement of the 11th UfM Ministerial on Trade (10 November 2020), the Ministers welcomed the launch of a joint reflection on trade policy in view of new environmental and climate challenges. There has been work at WTO level in this regard, and UfM senior trade officials have held a number of discussions on the matter at meetings of the UfM Regional Platform on Trade and Invesment. In this context, this year’s edition of the UfM Trade and Investment Forum will focus on three interrelated thematics. The first will be dedicated to challenges and opportunities of the green transition to contribute to green and inclusive economic growth and investment. The second will focus on what governments should consider when creating policies for the promotion and facilitation of sustainable and inclusive investments in the Mediterranean countries. Finally, the third thematic panel will focus on green transition cooperation to contribute to more sustainable supply chains across the Mediterranean.
The Forum, the sixth in six successive years, will be held in Rabat on 7 November 2024, and will be co-organised with the German Development Cooperation. It will benefit from the expertise of a broad spectrum of experts and actors in the field who will come together to discuss latest trends, opportunities and challenges, as well as best practices that can be replicated or scaled up. The key recommendations from the Forum will guide future actions of the UfM Secretariat in the field and will inform the preparations for the next UfM Ministerial on Trade and Investment.
Outcome document of the previous edition (5th UfM Trade and investment Forum)
