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The Union for the Mediterranean: Where Do We Stand?
Following the second edition of the Mediterranean Talks, held in Hammamet on May 25 and 26, the Institute for Economic Foresight of the Mediterranean World will release a set of recommendations ahead of the Union for the Mediterranean summit, taking place ten days later. An interview with Radhi Meddeb, MD of Ipemed.
Numerous business leaders, policymakers, and representatives from professional networks are expected to gather in Hammamet, Tunisia, on May 25 and 26 for the 2nd edition of the “Entretiens de la Méditerranée.” On this occasion, the Institute for Mediterranean Economic Foresight (Ipemed)—a think tank led by Jean-Louis Guigou and Radhi Meddeb—will launch “seven projects for June 7,” the date of the second UPM summit scheduled to take place in Barcelona. This initiative focuses on energy, water, Mediterranean 2030 foresight, the exchange of elites, agriculture, free movement, and finance. Radhi Meddeb, MD of Ipemed, analyzes the evolution of the UPM.
What is the current state of the Union for the Mediterranean?
Radhi Meddeb: First and foremost, the UPM is a collective and diplomatic process launched two years ago by Nicolas Sarkozy. While the initiative is moving forward, it is currently facing challenges due to the situation in the regions involved, which are struggling to reach a common consensus. The general secretariat has not yet been established, leading to increased tensions. We are still largely in the stage of high-profile announcements. However, this is a long-term process; Europe was not built in a day. Beyond this institutional dimension, we are witnessing an already existing economic process. Business leaders are meeting more frequently and sharing a common diagnosis. On this front, progress is being made.
Does this union constitute a response to the crisis?
R. M.: It is a response to economic needs arising from globalization. The Doha Round, intended to regulate global trade, has stalled. However, dialogue is progressing at the regional level. Furthermore, following the crisis between Russia and Georgia, the European Union has recognized the limitations of eastward expansion. The Mediterranean remains undeniably a reservoir of growth for Europe.
*What are the challenges currently facing Europe and Africa?*
R. M.: They focus on both water and energy. Following the Mediterranean summits, we will launch a “call for 7 projects by June 7.” On a financial level, for instance, we believe it is necessary to create a Union for the Mediterranean bank, inspired by the IMF. We must change the perception of Europeans, who still too often view the southern shores of the Mediterranean as a high-risk zone. One figure illustrates this distrust: Europe allocates only 2% of its global investments to Mediterranean regions, whereas North America invests 20% in southern regions such as Mexico.
*The UPM has faced several setbacks since its inception. What does its future hold?*
Mr.: Today, business leaders are not waiting for policymakers to take the lead. This is already evident in migrant remittance flows, which average 10 billion euros per year to their home countries. This represents a massive untapped resource. The European Parliament aims to revitalize the EMU, as it views the Mediterranean as a source of growth opportunities in the face of the current crisis. While Europe is facing a difficult economic situation, it must find strategic advantage by leveraging these Southern regions. Everything the South lacks is present in the North, and everything the North possesses can be applied to the South. It is essential to establish well-conceived solidarity for the benefit of all.
