Adel Tayari -TDO- (TUNISIA) According to an economic study published by the Forum Davos “AMU" is one of the worst performing business conglomerates in the world and security cooperation can make the region more attractive for investment
The World Economic Forum (Davos) published a study on the economy of the Arab Maghreb Union which said that this union, which includes Morocco, Algeria, Libya, Mauritania and Tunisia is one of the worst trade conglomerates in the world calling on its officials to overcome the competitive mentality and to look for ways to cooperate with them so as to make it easier for the Maghreb countries to continue economically and overcome their crises.
The World Economic Forum stressed that the Maghreb Union countries in North Africa are an example of an area where their countries have not been able to find a path to deeper integration and there is no level of cooperation between them, although the Arab Maghreb Union was established more than 25 years ago with the aim of building a strong economic bloc in the region.
The study added that despite the vast potential in the region, trade between the Arab Maghreb countries accounts for only 4.8 percent of its trade volume, according to the UN Economic Commission for Africa (ECA), accounting for less than 2 percent of the region's gross domestic product, according to the World Bank. And according to the same source. If the five Maghreb countries are merged, each will receive at least 5% of GDP. A World Bank report confirmed that if economic integration were to be achieved in the Maghreb, including liberalisation of services and reform of investment rules the Real GDP per capita between 2005 and 2015 would have increased by 34% for Algeria, 27% in Morocco and 24% in Tunisia. The study stressed that there is no choice but for the Arab Maghreb countries to achieve economic integration in part if not entirely, and to liberalise the movement of goods, people, services, capital and cooperation on the establishment of an effective and integrated infrastructure between countries, especially railways and roads. And trade barriers. The study also stressed that the five member states should benefit from the fact that they are dealing largely with Europe as an opportunity to unify and coordinate many laws at the Maghreb level, such as what can deal with sub-Saharan Africa, the land of opportunity, as a vital partner for economic cooperation.
But the question is will the political will in the Maghreb countries become available to achieve this economic integration and will the Arab Spring succeed in achieving prosperity and stability for the region? And which more importantly is will the forces of counterrevolution be allowed Will the forces of counter-revolutions supported by several influential parties in the world allow all this to happen? Although helping the countries of the region to settle politically and economically will make them a magnet for investors and end the secret migrations and reduce the risk of terrorism, which only thrives in the atmosphere of poverty and tyranny.