27-06-2012

European Financial Institutions and PAM Parliamentarians to meet in Lisbon on 29 June, 2012

European Financial Institutions and PAM Parliamentarians to meet in Lisbon on 29 June, 2012
 
At the invitation of the Portuguese Parliament, the Finance Group of the Parliamentary Assembly of the Mediterranean (PAM) will meet in Lisbon, Portugal, on 29 June, 2012, to hold a parliamentary hearing on the theme: “Towards a sustainable economic development in the Mediterranean Region” from a financing perspective.
 
This high-level conference will address also the issue of capital markets, as the financial instruments for long term financing and for sustainable economic development of SMEs in the area. At the meeting, Mediterranean MPs, along with, UN Agencies, the European Commission, Euro-Mediterranean Financial Institutions and the private sector, among which the European Bank for Reconstruction and Development (EBRD), the United Nations Economic Commission for Europe (UNECE), the African Development Bank (AfDB), the International Labour Organization (ILO), the European Investment Bank (EIB), the European Central Bank (ECB) and the Directorate General for Energy of  the European Commission, will meet to discuss strategic approaches for the financial sector and parliaments, on how to achieve sustainable growth in the region.
 
The parliamentary hearing sessions will focus on the following topics: A framework for political, economic and financial sustainability in the Mediterranean Region; The Outlook for the Mediterranean: Economic Impact of Social and Demographic Dynamics; Finance for Small and Medium-Sized Enterprises and their role for economic stability; Regional co-operation in key industry sectors: Energy and Infrastructures.
 
Extraordinary political events in the Southern and Eastern Mediterranean have raised expectations on the region’s future growth and the process towards sustainable economic development. At the same time, the effects of the financial crisis on the northern shores of the Mediterranean and beyond have equally put important pressure on Governments to reduce public spending, whilst at the same time reviving growth in their economies.
 
Across the Mediterranean a special need is felt to modernise the region’s economies by stimulating the economic reform agenda and improving the regional investment climate and business environment. This is even more relevant as social and demographic dynamics are putting more pressure on Governments for the near future. In the absence of a Free Trade Area in the Mediterranean there is an urgent need for regional parliamentary co-operation to promote economic growth through measures such as facilitating the development of SMEs, investments in infrastructures, encouraging the creation of employment and increasing North-South and South-South trade in the Mediterranean region.
 
MEDIA INFORMATION: 39/2012
ISSUED ON: 27.06.2012
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