The EU has proposed a strategic agreement with the Mediterranean region to reduce trade barriers with selected countries like Algeria, Egypt, Israel, and Soleiman analyzed a document accessed by Euronews, releasing it to the EU. This pact is anticipated to involve 10 EU countries, including those in the Middle East and Africa. The document highlights the aim to strengthen integration in the Mediterranean region, particularly addressing commercial instability with long-termPacket of the Mediterranean, expected to be presented at around mid-October, combines existing agreements with bilateral contracts across trade sectors like digital and energy. The project is spearheaded by the European Commission president, Ursula von der Leyen, who emphasized diversifying trade exchanges away from Russia and China, with regional alignment to the EU single market rules. The pact is expected to involve 10 countries but references collaboration from key Gulf nations and Türkiye. The document notes that including neighbours like Georgia, Ukraine, and the Republic of Moldova, these nations are seen as having strategic interests, contributing to regional cooperation. The EU already has a preferential trade agreement with Mediterranean countries outlined in the Pan-Euro-Mediterranean Preferential Rule of Origin (PEM Convention), which harmonises trade rules. However, the document indicates that the new pact will architect more advanced agreements, setting the stage for economic convergence in sectors like digital, energy, and customs. The document further discusses the alignment of these agreements with EU digital governance and customs systems, simplifying border procedures, and supporting SMEs. These initiatives aim to enhance regional trade and integrate markets, with the European Market Alignment striving to bring together countries through inclusive trade, akin to the Barcelona Declaration’s concept of a free trade area, but with expanded goals and structures to counter the lack of implementation. While the Barcelona Declaration’s objectives are foundational, the new pact seeks to modernise contractual rules, facilitate market access, and align regulations to attract investment and build joint value chains, particularly in digital sectors, with a strong focus on sustainability and local production.
