Mr Mohamed Choucair, President of the Association of the Mediterranean Chambers of Commerce and Industry (ASCAME), and Mr Elie Ziade, President of the Mediterranean Federation of Insurance Brokers (FMBA), have signed a Memorandum of Understanding (MoU) between “ASCAME” and “FMBA”.

The MoU aims to develop the private sector, particularly the SMEs, and to achieve economic & social development in the Mediterranean region, as well as the creation of joint projects dealing with research, creative projects & business support, and the enabling of an investment environment in order to promote private sector initiatives in the Mediterranean that are fundamental basis for economic, sustainable and long term growth.

President Mohamed Choucair inaugurated the press conference by stressing that “Lebanon and Beirut continue to play an active role in the economic and commercial sphere of the Mediterranean basin. This role and its effectiveness result from the presence of a solid private sector and the transfer of the expertise of successful businessmen worldwide”. President Choucair believes that the insurance sector is essential to all economic activities. He added that “we share the approach of how to revitalize the economy of the Mediterranean countries through our major projects in the Mediterranean region especially the SMEs which form the backbone for the development of the Mediterranean”.

Choucair considers that these SMEs play a major role in reducing the unemployment rate in the region. He adds: “We must do what is best for everyone with the help of sister organizations and we rely heavily on the FMBA to also help us in this field.” Proposals to be implemented Choucair presented some of the proposals that both parties seek to implement: The transformation of the FEMIP (Facility for Euro-Mediterranean Investment and Partnership) into a development bank of the Mediterranean, to channel credit to SMEs; The creation of Mediterranean Arbitration and Mediation Centers – Beirut already having one and others will follow – to secure the contractors and to promote project initiatives; To support the efforts of the European Union in the southern countries where it aims to establish a Small Business Act in order to regulate the working conditions of Small Business and facilitate its development; To prepare a great Mediterranean exhibition of franchises together with the Marseille-Provence Chamber of Commerce in order to introduce a maximum amount of companies, especially among SMEs, into this dynamic sector; To hold a large investment conference between the Mediterranean and the Gulf, where the North countries would offer their technology and Southern countries a favourable investment environment. Mr Ziade’s Speech President Ziade said that the FMBA and the ASCAME unite for a common goal, namely to achieve stability and to promote and strengthen commerce across the Mediterranean region. He adds: “The FMBA was established 10 years ago, with the aim of making insurance brokers in the Mediterranean countries re-discover the importance and the potential offered by the Mediterranean.” From the FMBA institutional perspective, the Mediterranean has not considered a point of separation between the countries surrounding it, but rather a bridge or a pathway that should unite experts on different levels”.

Chairman Ziade explained that the FMBA had started with a small vision from its founders in France, Italy and Spain, while today it comprises 14 associations of intermediaries from 10 different countries in the Mediterranean region with a high potential of expansion of additional member countries. Mr Ziade considers the meeting with ASCAME, which has a network of 230 member chambers from the Mediterranean basin, as an important moment. He adds: “Only a wide network of unity and cooperation can make us achieve the results that we want in this regard. ASCAME is a great example for us and an extremely valuable business partner.”