Barcelona, 13 November 2015 – The Association of the Mediterranean Chambers of Commerce and Industry (ASCAME), in collaboration with the European Institute of the Mediterranean (IEMed), will organize the 12th edition of the North Africa Business Development Forum (NABDF), which will take place in the framework of the 9th edition of the Mediterranean Week of Economic Leaders, the 25th November in Barcelona.
In spite of recent developments in the region, the Maghreb countries offer the enormous commercial potential for Europe and, in particular, Spain and its companies. The five largest economies of North Africa have more than 100 million people; most of them are young people with a relatively high education level. However, despite the great opportunities offered by the region to the EU and Spain in particular, inter-Maghreb trade is still one of the least integrated into the world. It could increase its GDP by almost 30% if it will focus on this integration and on opening borders, which would greatly benefit to Europe.
Europe is the leading economic partner of Maghreb, given that 40% of its energy supply comes from this region. In the case of Spain, with exchanges which reached 25,000 million euros last year, of which approximately 45% comes from gas and 14% oil of this region. Moreover, nearly 30,000 Spanish companies export in this region and more than 1400 companies are established in the region.
Importance of the Maghreb
The Maghreb still has a leading role to play on the world stage. Many sectors have strong potential for investment, such as food and automotive industry, renewable energies, water and waste management, tourism and hospitality, equipment and finance, among others.
Algeria and Morocco are key strategic partners of Spain. The North-African country is the third-largest supplier of gas of Europe and the eighth largest gas producer in the world and among the top 20 oil-producing countries. Oil and natural gas represent 98% of exports, 45% of GDP and 65% of the country’s revenues.
Another clear example is the North-African potential of Tunisia. Compared to its neighbours, Tunisia is one of the five Maghreb countries, which invested in human capital and which is in an economic reforms process aimed at strengthening the private sector and investment. Mauritania, meanwhile, has made a quantitative jump of 6.4%, with great opportunities in tourism, food industry and chemistry and agriculture, among others. Spain is also a key trading partner since trade in the region accounts for 6% of its total foreign trade.
North Africa Business Development Forum
North Africa Business Development Forum (NABDF, its acronym in English), was born in 2002 to strengthen the role of private enterprise in this region and to be the annual meeting point for businessmen, economic experts, bankers and institutional and government representatives. This year, the Association of the Mediterranean Chambers of Commerce and Industry (ASCAME), in collaboration with the European Institute of the Mediterranean (IEMed), will organize the 12th edition of the forum, which will take place in framework of the 9th Mediterranean Week of Economic Leaders, the 25th November, in Barcelona.
Under the slogan “North Africa: Era of Change”, this recognized forum will bring together entrepreneurs, experts and government and institutional representatives of the two shores of the Mediterranean countries, in order to discuss the economic growth of the Maghreb countries, to discuss the business climate in the region and also its major challenges such as the creation of a favourable environment for investment, infrastructure improvement and optimization of human capital.
The forum will present the opportunities and realities of a region where belief and support have an important place. Europe needs to invest in this region and to dedicate intellectual and financial resources in order to achieve a healthy and sustainable environment, particularly in the current context of political uncertainty and security.