“The Parliamentary Assembly of the Mediterranean is in favour of an integration process that involves a wide platform of financial institutions to facilitate further investment opportunities and the creation of new businesses, which are central to the Mediterranean region’s economic strategy”.

This message was conveyed by Hon. Claudio Azzolini, who was representing PAM at the Workshop ˝The South in the Mediterranean, with and for Europe˝ organised by the Unipolis Foundation (Banco di Napoli (Gruppo Intesa Sanpaolo) in Naples, Italy, on 26 January 2010.

In his speech, Hon. Azzolini said that PAM, in this sector, plays the role of a working platform among the different economic entities of the Mediterranean area and the regional Parliaments. The Assembly supports this process of integration, whose primary objective should be that to involve the financial institutions on both sides of the Mediterranean basin.

“ This is not only necessary for the successful approach to the dynamics of financial integration and collaboration in the region, but represents also a springboard towards new markets, especially those in Asia”. Hon. Azzolini added.

In order to contribute towards further synergies in the area, the Parliamentary Assembly is developing a strategy aimed at establishing a structured relation with the region’s financial institutions to facilitate closer ties among the main actors from the parliamentary dimension and the economic sector of the Mediterranean. The participation of a number of high-level key speakers from these fields has been instrumental in 2009 during the debates of the 2nd Standing Committee which deals with Economic, Social and Environmental Cooperation. In 2010 PAM will be holding a Panel on External Trade as part of the calendar of activities pertaining to the 2nd Standing Committee on Economic, Social and Environmental Cooperation.