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Ten Years after: Achievements and Challenges of the Euro-Mediterranean Economic and Financial Partnership

Juliane Brach

No 36, GIGA Working Papers from GIGA German Institute of Global and Area Studies

Abstract: EU and twelve countries of the Middle East and North Africa (MENA) engaged in 1995 in the Euro-Mediterranean Partnership (EMP) in political, economic and cultural matters with the aim to foster cooperation, stability, and prosperity around the Mediterranean Basin. The Economic and Financial Partnership (EFP) plays a central role in the EMP design and implementation, which is centered on economic and trade integration as a starting point for and an anchor of socioeconomic development in the MENA region. Against this background, this paper reviews the situation in the MENA partner countries and the past performance of the EFP. It analyzes the association agreements, economic cooperation and financial assistance, discusses the major obstacles, and outlines the potential of the EFP to shape the European Neighborhood Policy.

Keywords: EU; Euro-Mediterranean partnership; Barcelona process; MENA; economic integration; socioeconomic development (search for similar items in EconPapers)
JEL-codes: F15 F5 O19 O53 (search for similar items in EconPapers)
Date: 2006
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