UfM Activity Report 2014

The UfM Secretariat promotes activities aimed at strengthening cooperation and regional integration between Euro-Mediterranean countries. Intra-regional trade between Southern Mediterranean countries remains too low when considering its potential. At only 5%, this stands as a very low figure of their total external trade when compared with other regional economic blocs. The weakness of regional integration is an obstacle for growth and socio-economic development, and ultimately, for stability in the region. It is also indirectly related to one of the region’s main challenges: youth unemployment. Yet, the region has great potential for socio-economic progress, economic growth and competitiveness. A dynamic population with emerging actors like young people and women; a business network primarily made up of Small and Medium-sized Enterprises accounts for 80%-90% of the companies in the region and is ready to embrace new ideas and projects; numerous business opportunities in large infrastructure projects in the fields of transport or urban development; and the exceptional natural resources available for energy, water and environment. These count as just some of the region’s main assets.

Author: Union for the Mediterranean

March 2015