Local view for "http://purl.org/linkedpolitics/eu/plenary/2012-05-10-Speech-4-403-000"
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"en.20120510.69.4-403-000"2
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"Since the fall of the Berlin Wall, the Arab Spring can be considered the most significant political transformation in Europe’s neighbourhood. This process presents us with an excellent opportunity to harmonise the EU’s trade and foreign policy interests with the fundamental values of human rights, democracy and free society.
It is well known that the EU has exclusive competence over trade and investment policy, which allows it to provide an effective response to the upheavals. The perception amongst the civil societies of the Southern Mediterranean countries is that the EU should be more proactive in aiding political and economic transformation in the region. Since the 2008 economic crisis directly affected the main sectors that represent the economic drivers of the Southern Mediterranean countries, and since the turmoil experienced by Tunisia, Egypt, Syria and Libya during the Arab Spring has further compounded the economic downturn in those countries, I find it necessary to strengthen relations in terms of the creation of investment opportunities. This strategy must be implemented in full cooperation with the other policy areas. Through the Facility for Euro-Mediterranean Investment and Partnership (FEMIP), the European Investment Bank (EIB) plays an important role in supporting small and medium-sized enterprises (SMEs) in the Southern Mediterranean. These enterprises need essential investment to allow them to innovate and restructure in a manner that would enable them to tap the potential of the EU’s internal market. Additionally, I welcome the recent extension of the EBRD’s mandate and I hope that the bank’s experience in Eastern Europe will bear fruit in the southern neighbourhood."@en1
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