Some element of an answer may be found in the following four important dimensions: the globalization of markets and the emergence of the World Trade Organization; the increased mobility of private capital with its attendant risks; the European-Mediterranean Initiative which is now gathering steam in the region; and the ongoing sub-regional trade agreements that are being considered with increased seriousness. Each of these dimensions has important effects for the economy of the Middle East and North Africa region. And each calls for equally important changes in development philosophy and strategy.

Ishac Diwan

Topics Covered in This Section

WTO, the European-Mediterranean Agreement and the
Unified Arab Market: A European Perspective
Bernard Philippe, Principal Administrator at the European Commission, Belgium