The Parliamentary Assembly of the Mediterranean organized on 8 July 2020 a high-level webinar forum on governmental and legislative actions required to support the productive sectors in the post-COVID Economic Recovery.
The main aim of the conference was for parliamentarians from the Euro-Mediterranean region to review government policies and the most effective legislative tools required to address the multiple economic challenges in the economic recovery phase, in order to support SMEs, investors, both entrepreneurs and workers, to ease access to credit through financial and monetary efficiency, within an integrated regional approach.
The forum gathered policy and decisions-makers, senior experts and representatives of international organizations and financial institutions, and the productive and academic sectors to exchange views and suggestions on how to tackle, in the present phase, the difficulties faced by governments and the productive sectors in the Euro-Mediterranean and Gulf regions, and by providing indicators for a strong economic recovery.
Over 160 delegates, representing governments, parliaments and economy of 26 countries, registered for the event, reflecting the great desire and unique opportunity to interact and cooperate among themselves in facing the unprecedented socio-economic crisis associated to the pandemic.
At the opening of the event, PAM President, Hon. Karim Darwish, Egypt, emphasized the impact of COVID-19 and its dramatic socio-economic effects on families and enterprises across the globe, particularly SMEs. He highlighted PAM’s close and timely coordination with regional and international actors from the onset of the crisis to identify, share and adopt socio-economic response measures for the economic recovery.
Hon. Giulio Centemero, Italy, Co-chair of the PAM Panel on Trade and Investments, who moderated the forum, highlighted the importance of the role of speakers, whose experience and functions provided key approaches for developing innovative solutions in dealing with the recovery phase
Speakers focused on strategies and instruments to sustain national efforts, entrepreneurs and workers.
In particular, Minister Rania Al-Mashat, Egypt, highlighted the key role of PPP public-private partnership for the economic recovery, which should also aim at being more sustainable and greener. In this regard, Ms Alessandra Priante, UN WTO, underlined how this partnership is critical for the tourism sector, which counts in regional economy with an average of 10% of national GDPs. On the same lines, both Ms Isabelle Durant, UNCTAD, and Mr Bernando Calzadilla-Sarmiento, UNIDO, stressed the need for a more inclusive economic measures, recalling that SME employ 90% of the work force in the region. Hon. Margarida Marques, European Parliament, said that a concrete recovery would be possible only with a common and shared response, especially for Europe. Another important element suggested by Hon Liam Byrne, UK, and Mr Ayman Sejiny, CEO of the Islamic Corporation for the Development of the Private Sector, is the implementation of flexible economic measures capable to ease the burden on enterprises and livelihoods, including keeping low interest rates. Prof. Alberto Dell’Acqua, President of Italgas, suggested innovation as one of the key-factors on which the Mediterranean basin could focus on for a very sustainable economy.
In order to help the productive sectors, Mr. Enrico Resmini, CEO of the National Innovation Fund of Italy, and Mr. Massimo Falcioni, CEO of Etihad Credit Insurance, UAE, stated that the economy needs new and fresh investments: this would be possible only if trade will remain open and if trade facilitation measures will be implemented, according to both Mr. Raffaele Jerusalmi, CEO of the Italian Stock Exchange, and Mr. Said El Hachimi, WTO. Additionally, Mr Sufyan Al-Issa, Regional Head of Operations for Middle East and North Africa, WB, stated that trade facilitation measures are particularly important in the MENA region, where only 8% of SMEs have access to the capital market. This is a particular topic on which PAM has launched, a year ago in Milan, a dedicated programme to support entrepreneurs. An active debate followed the presentations.
PAM President Emeritus, Hon. Pedro Roque, Portugal, called upon thinking specific legislative measures to support economic performance, revive the tourism sector, and prevent many families from falling into extreme poverty. This should take place in parallel with the need for concerted international efforts to produce a vaccine against this epidemic.
In their concluding remarks, Hon. Centemero and PAM Secretary General Amb. Sergio Piazzi referred to the operational and practical Round Tables, in support of SMEs and Start- Ups, that PAM has scheduled to take place in September.