EU Trade Commissioner to promote Euro - Med Free Trade Area

EU Trade Commissioner Peter Mandelson arrived last week in the Middle East for three days of talks with ministers, officials and business representatives from Israel, the Palestinian Authority, and Jordan. Mandelson's aim was to boost trade ties with and among Israel, Jordan and the Palestinian Authority.
 
According to European sources Mandelson came with proposals for developing bilateral trade relations between Israel and the Palestinian Authority, as well as on matters related to ways that other countries in the region, can benefit from the recently proposed new system of regional ‘cumulation of origin’.
 
Before his departure to the region Mandelson said that the EU was ready to help strengthen trading links in the region and between countries in the region as a mean to contribute towards regional stability.
 
According to European sources Mandelson's aim was to promote EU plans to set up a Euro-Mediterranean free-trade market in goods and services.
 
The EU estimated that such a regional market joined to Europe could increase trade by over 40%, if all countries in the region sign up to and implement free trade agreements between themselves and with the 25 members of the EU.
 
Last Friday Mr. Mandelson, Israel's Minister of Industry Trade and Labor Ehud Olmert and Jordan Minister of Industry and Trade Sharif al-Zubi signed a declaration toward a PanEuroMed rules of origin for joint Israeli-Jordanian exports from free trade zones to the EU.
 
A statement from the Delegation of the European Commission to the State of Israel said, "Commissioner Mandelson’s visit reinforces Europe’s commitment to helping develop trading links in the Middle East region and between the Middle East and Europe through the creation of a Euro-Mediterranean Free Trade Area in goods and services, reinforced by the PanEuroMed system of cumulation of origin.
 
This will allow products sourced and produced throughout the Mediterranean region to enter the EU market on a preferential basis". This trilateral agreement is expected to significantly help Israel's textiles industry competitiveness, and enables cooperation with third countries, while keeping customs-exempt status for exports to the EU.
 
During his three-day trip, Mandelson held talks with Finance Minister Benjamin Netanyahu and PA Prime Minister Ahmed Qureia. Israeli Minister of Industry, Trade, and Labor Ehud Olmert and Jordanian Minister of Industry and Trade Sharif Ali Zu’Bi . He also delivered a lecture at the Hebrew University in Jerusalem on ‘EU Trade policy and the Middle East’ on May 19, and participated in the World Economic Forum in Jordan on May 21.