Commission puts enterprise at the heart of Euro-Mediterranean cooperation
Industry ministers from nine of the EU's Mediterranean partners have jointly signed the Euro-Mediterranean Charter for Enterprise, outlining the common principles on which they will base their future enterprise policies. The Charter is the first common document ever signed by these regional partners: Morocco, Algeria, Tunisia, Egypt, Israel, Jordan, the Palestinian Authority, Lebanon and Syria. The aim behind the initiative is to create an environment conducive to investment and private sector development, and thus contribute to the creation of a Euro-Mediterranean free trade area by 2010. The agreement specifies ten areas for action in enterprise related policy. Top of the list is the introduction of simple procedures for enterprises, where the Charter states: 'All rules governing business activity must be transparent and applied uniformly. They should reward success and treat failure as a learning opportunity and part of the process of risk-taking. 'The guiding principle should be to keep burdensome requirements to a minimum in meeting public policy objectives. Legislators should take into account the limited resources of SMEs [small and medium sized enterprises]: think small first,' the document continues. The Charter also targets easier access to finance and investment-friendly taxation, stating that instruments such as venture capital, business angels and other forms of funding for high growth companies should be promoted. 'Tax systems should be adapted so as to facilitate the establishment, growth and transfer of SMEs, favour job creation, reward success and encourage start-ups,' it reads. A further feature of the Charter is its focus on improved skills, through the development of continuous vocational training for workers, including retraining in areas of new technology. 'We will tailor university curricula to the needs of innovative companies and promote links between research, universities and industry in order to make public research a relevant asset in the race for competitiveness,' the ministers promise. Having signalled their commitment to these and other goals, the partners pledged to make every effort to implement their common objectives, a process that will be overseen by the Commission.
Countries
Algeria, Egypt, Israel, Jordan, Lebanon, Morocco, Syria, Tunisia