Mediterranean businesses to profit of over €17 billion trade potential
The Regional Euromed Trade Helpdesk now includes more extensive data and features to further strengthen regional integration and accelerate trade development among Euro-Mediterranean partners.
(Geneva) Southern and eastern economies in the Mediterranean currently have a regional export potential of €17.3 billion, according to estimates by the International Trade Centre (ITC). However, about one-third of this potential remains untapped. Similarly, their currently untapped export potential to European Union (EU) markets amounts to over €44 billion.
Services trade forms a major part of the regional economy with an intra-regional export potential of €25 billion. The travel and transport sectors together account for 54% of the export potential to the EU and 77% of the potential to Euro-Mediterranean countries.
To make well-informed business decisions and identify opportunities within these promising markets, economic operators need access to up-to-date, comprehensive and reliable information. This is what the newly upgraded version of the Euromed Trade Helpdesk offers: the only platform that allows users to spot intra-regional potential, compare the rules of origin of related trade agreements, anticipate regulatory changes, consult foreign direct investment flows, and explore trade in services in the region, among other benefits. The data is continuously updated thanks to national authorities.
Moreover, a network of around 100 national institutions in 10 southern and eastern Mediterranean partners addresses the queries of users and provides them with customized answers. The network’s objective is to assist economic operators in trade-related issues and to harness greater regional integration in the most practical way possible.
‘In our new agenda for the Mediterranean we recognise the potential of trade and investment in creating opportunities for the people of the Southern Neighbourhood. It all starts with transparency and reliable information. This is the benefit of the Euromed Trade Helpdesk, a free and easy to use resource that can benefit consumers, companies, especially Small and Medium Entreprises, as well as policy makers. The revamped platform offers more information, from rules of origin, to trade in services; elements that are important for people to make informed decision when trading within and with the region.’
Maciej Popowski, Acting Director General, Directorate General for Neighbourhood and Enlargement, European Commission
‘There is so much untapped potential for southern and eastern Mediterranean economies to trade more with each other. The new Euromed Trade Helpdesk, designed in close collaboration with representatives from trade-related ministries and the private sector, will make trade happen. It contributes to enhancing transparency in trade-related information, which will support the decisions of small businesses.’
Pamela Coke-Hamilton, Executive Director, International Trade Centre
Since its launch in June 2017, the free online tool Euromed Trade Helpdesk has been the go-to-place for thousands of southern and eastern Mediterranean economic operators, helping them to identify opportunities in both regional and European Union markets: https://euromed.tradehelpdesk.org/euromed/
The Euromed Trade Helpdesk is part of the Trade and Investment Facilitation Mechanism (TIFM) funded by the EU and implemented by the International Trade Centre. TIFM phase I allowed to build and launch the first version of Euromed Trade Helpdesk in June 2017. In March 2018, trade ministers from the Mediterranean region endorsed the Helpdesk as a pioneering tool for comprehensive regional trade intelligence. Trade TIFM phase II encompasses the upgrade of the Euromed Trade Helpdesk among other activities. For more information click here: https://intracen.org/our-work/projects/euromed-providing-trade-and-market-intelligence-for-better-informed-decisions
To watch our short video on the Euromed Trade Helpdesk please click the link below: https://www.youtube.com/watch?v=DhI5KoKxu5s
About the International Trade Centre
The International Trade Centre is the joint agency of the World Trade Organization and the United Nations. ITC assists small and medium-sized enterprises in developing and transition economies to become more competitive in global markets. It thereby contributes to sustainable economic development within the framework of the United Nations’ Sustainable Development Goals.
International Trade Centre
Email: Press [at] intracen.org (Press[at]intracen[dot]org)
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