The Mediterranean Economic Forum was organized by ICE (Italian Institute for Foreign Trade), CONFINDUSTRIA (Confederation of Italian Industries), ABI (Italian Banking Association), UMCE (Union of Mediterranean Confederations of Enterprises), IPI (Institute for Industrial promotion), with the support of the Italian Ministry of Foreign Affairs, the Italian Ministry of Productive Activities, the Sicily Region, the Sicilian Regional Assembly, in cooperation with ANIMA (Euro Mediterranean Network of Investment Promotion Agencies), and was sponsored by the European Union.

The Forum aimed at strengthening economic cooperation between Italy and Southern Mediterranean Countries. It highlighted the common values and interests that people of Mediterranean basin share.
 
Upon a generous invitation from the Italian Government through the Italian Embassy in Amman, I had the honour to be a member of the Jordanian delegation to this forum and also to represent JIBCO (The Jordanian Italian Business Council) to this important event.
 
H.E. Dr. Hatem Halawani, Chairman of Jordan Chamber of Industry, headed the Jordanian delegation which represented important industrial sectors such as construction, energy, veterinary and agricultural products, foodstuffs, chemical and cosmetics and pharmaceutical industries, as well as the banking sector, the Jordan Investment Board and the Jordanian Media. 
 
The Italian Minister of Foreign Affairs, Gianfranco Fini, seized the opportunity to stress that trade and investment are key to combating the social challenges the Mediterranean Region is facing.
 
The Forum took place in Palermo, the capital of Sicily, on February 20-21, 2006 bringing together entrepreneurs and business leaders from Jordan, Palestine, Algeria, Cyprus, Egypt, Israel, Lebanon, Libya, Malta, Morocco, Syria, Tunisia and Turkey. The event included over 2,750 business-to-business meetings which participants discussed investment opportunities and reinforcement of partnership projects.

The two-day Forum provided a concrete platform to reinforce economic integration in the region as well as Italian enterprises’ interest in their Mediterranean counterparts, and to strengthen industrial collaborations and business partnerships/investments in preparation for the 2010 deadline for the establishment of Euro- Mediterranean Free Trade Area (EU-MEFT), which is based on the Barcelona Process; and the European Neighborhood Policy.
 
Ten years after the launch of the Barcelona Process, the objective of creating a Euto- Mediterranean region where peace, stability and prosperity prevail still seems difficult to attain. And although many Arab countries to the South of the Mediterranean have undertaken structural reforms and economic liberalization programs, the challenges of globalization, the enlargement of the EU, and the emergence of new competitors, on the world scene are posing new threats to the ambitious project. However, the fact remains that the Mediterranean region can still be a major team member in the world economy. If regional integration between countries of the Mediterranean is seriously pursued the region could open up an advanced, fast growing market for over 250 million consumers.
 
During the event, the Jordanian delegation highlighted Jordan’s strong economic performance and the development of its economic liberalization and privatization programs during the last five years, stressing the country’s support for the Barcelona Declaration and the European Union’s Neighborhood Policy.
 
We noted that Jordan’s exports to Arab Countries increased from $608 million in 2000 to $1.6 billion in 2005, and its exports to the US grew from $63 million to $1.11 billion during the same period.
 
We also noted that this impressive increase in our US and Arab exports did not match our exports to the EU, which are still modest,
 “In an increasingly globalize world, the EU remains the main partner of Med countries, both in trade of goods and services”.
 
The Jordan Investment Board also highlighted the investment incentives Jordan provides in a presentation on the latest developments in the investment climate in the country.
 
During a round table discussion on the second day of the Forum, Ambassador Umberto Vattani, President of ICE (the Italian Institute for Foreign Trade), said that Italy has four main areas of interest with regard to the Mediterranean region. First, improving communication channel through mass media. Second, better sharing of information related to trade fair both in Italy and Southern Mediterranean countries. Third, is telecommunications and Fourth, Training.
 
Overall the meeting was a great success, and the organization, discussions and hospitality of our Italian counterparts and Italian government was first-class.
 
 
Regards,
 
 
Nazzal Armouti
 
 
C.C. H.E Gianfranco Giorgolo
          Ambassador of Italy