Triangular investment between Europe, Tunisia and Africa of high importance (TABC)

Triangular investment between Europe, Tunisia and Africa is of high importance, President of the Tunisia-Africa Business Council (TABC) Anis Jaziri said at a roundtable meeting held on Thursday.

He focused on mechanisms likely to help Tunisia become a gateway to Europe and the African market and laid emphasis on the importance of realising the concept of economic sustainability.

The event was organised by the European Bank for Reconstruction and Development (EBRD), with attendance of European Union Ambassador to Tunisia and several Tunisian enterpriseswith investments in Europe.

There is also need to create investment opportunities and boost triangular trade.

Europe remains Tunisia’s main trading partner, Jaziri said. Several European enterprises are operating in Tunisia, hence the need for continuous action to guarantee their stability and their access to the African continent along with Tunisian companies.

In this respect, Jaziri highlighted the importance of Tunisia’s accession to the African Continental Free Trade Area (AfCFTA) agreement so as to foster trade between Tunisia and Africa – an opportunity for European companies based in Tunisia to benefit from these advantages, especially under a partnership with the Tunisian market with a view to providing access to African markets.

EU Ambassador to Tunisia Marcus Cornaro emphasised the importance of a clear vision to support triangular investment between Tunisia, the EU and Africa.

He reminded of the EU’s support for any regional and continental cooperation, especially as Tunisia had joined the Common Market for Eastern and Southern Africa (COMESA) and the African Continental Free Trade Area (AfCFTA) agreements, hence the need to expand the Tunisian-African-European joint market.

The EU has strongly supported inter-regional and continental trade and cooperation both in the Maghreb and in Africa, he added.

He commended, in this vein, the dynamism of the Tunisian economic diplomacy, in partnership with the public and private sectors, as well as its promising prospects to tap into investment opportunities in common markets.

For his part, EBRD Director for SME Finance and Development, Southern and Eastern Mediterranean Richard Jones said the bank is keen to promote tripartite trade and support initatives that foster such a dynamic through innovative technical and financial support.

The roundtable meeting was held on the fringes of the 6th edition of the Financing Investment and Trade in Africa (FITA 2023) Conference. The event was organised on September 20-21 under the theme of “Africa in the midst of a global crisis and the role of the private sector in sustainable and inclusive economic transformation.”

The event helped explore opportunities and challenges of tripartite economic cooperation in a constantly changing geopolitical context.

Talks focused on several issues, including ways to increase trade and encourage investment between the EU, Tunisia and Africa.

The strategy and initiatives being implemented by stakeholders, notably the EU and the EBRD, to stimulate economic growth and sustainable development also took centre stage.

Source: Agence Tunis Afrique Presse

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