Africa: ECA, BMICE Ink MOU to Strengthen Inclusive Development Within AMU

Tunis/Tunisia — The Economic Commission for Africa (ECA) Office for North Africa and the Maghreb Bank for Investment and Foreign Trade (BMICE) signed a co-operation agreement in November, the ECA announced on Wednesday.

This new partnership aims to promote inclusive and sustainable economic and social development in Arab Maghreb Union (AMU) member countries (Tunisia, Algeria, Libya, Mauritania and Morocco) by establishing a joint, technical co-operation framework in areas of common interest, and through which both ECA and BMICE aim to promote regional integration in the Maghreb.

In this context, both ECA and BMICE's strategic areas of intervention converge strongly and focus on supporting the economic and financial integration of the Maghreb region, through the development of intra-Maghreb trade and investment and by taking full advantage of the growth potential generated by integration.

"This agreement aims to facilitate the exchange of macroeconomic, financial and social data between our organisations, the joint production of sector-based studies and diagnosis of Arab Maghreb Union economies. It will also help us step up the exchange of expertise and knowhow for a more detailed analysis of the state of the economies and markets of UMA countries," said Director of the ECA Office for North Africa Lilia Hachem Naas.

"This agreement is in line with the BMICE strategy of institutional co-operation and strengthened partnership with major international financial organisations and regional development institutions, in support to regional integration in the Maghreb," BMICE Director General Noureddine Zekri said about the partnership's expected results.

The signing ceremony of the MoU was held at the ECA Office in North Africa in Rabat (Morocco) on November 13, with the participation of Director of the BMICE Center for Economic Studies and Co-operation Sami Mouley.

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