01-07-2019

Alternative Capital Markets for economic growth in the Mediterranean

Alternative Capital Markets for economic growth in the Mediterranean
Meeting of the PAM 2nd Standing Committee on
"Alternative Capital Markets for economic growth in the Mediterranean-
the critical role of parliamentarians"
4 – 5 July 2019 Milan, Italy
 
CONFERENCE BRIEF FOR THE MEDIA

 
 
 
 
 
PAM Overview
 
The Parliamentary Assembly of the Mediterranean (PAM) is an international organization established in 2005 by the national parliaments of the countries of the Euro-Mediterranean region. It is the legal successor of the Conference on Security and Cooperation in the Mediterranean (CSCM), launched in the early ‘90s. 
 
The main objective of PAM is to forge political, economic and social cooperation among the member States in order to find common solutions to the challenges facing the Euro-Mediterranean region, and to create a space for peace and prosperity for its peoples. It has 33 founding and associate member States.
 
PAM conducts the bulk of its work within three Standing Committees . It may also set up Working Groups, ad-hoc Committees or Special Task Forces to tackle a particular topic (i.e. Counter-Terrorism, Confidence Building, Peace Support, Conflict Resolution, Middle East Peace Process, Mass Migration, Free Trade and Investments, Economic Integration, Climate Change, Energy, Human Rights, Dialogue of Civilizations, Gender issues, etc…). Main operational and coordination instruments of PAM in these fields are: Field Missions, Electoral Observation Teams, the Economic Panel and the Academic Platform. 
 
Although the reports and resolutions adopted by PAM are not legally binding per se, they are a powerful “soft diplomacy” tool when dealing with parliaments, governments and civil society in the region. 
 
The PAM Secretariat is also entrusted with the parliamentary dimension of the 5+5 Western Mediterranean Forum and the MEDCOP.
 
The General Assembly of the United Nations granted the Permanent Observer Status to PAM, by Resolution A/RES/64/124, at its 64th Session on 16th December 2009, in recognition of its excellent work.  Today’s challenges, including mass migration, climate change and most importantly the resurgence of conflicts and the evolution of terrorism, require a collective effort, good will and confidence building measures and PAM’s  international and inter-regional cooperation is conducive to further strengthening the global initiatives in favour of future generations. 
 
The Meeting
 
The broad Euro-Mediterranean region continues to witness lasting political instability and major socio-economic challenges, which increasingly affect economic growth, global trade, markets and financial stability.
 
This context negatively influences private investors, and entrepreneurs, to direct financial resources in areas that could, instead, experience positive economic trends. Moreover, climate change and environmental hazards including consecutive droughts, undermine economic cohesion and further increase uncertainty. Young entrepreneurs, together with technological progress, can play a key role and act as driving forces for increased productivity, economic growth, food security, in a context of sustainable solutions.
 
In this regard, PAM’s MPs, as law-makers, assisted by state of the art expertise play a key role in shaping legislative harmonization and regulatory frameworks in accordance with the technological and financial “revolution” the world is witnessing, to foster a sustainable, innovative and inclusive development model in the Mediterranean region.
 
The PAM meeting on “Alternative Capital Markets for economic growth in the Mediterranean – the critical role of Parliamentarians”, organized by Hon. Giulio Centemero, Co-Chair of the PAM Panel on Trade and Investments in the Mediterranean, and kindly hosted by Borsa Italiana (Italian Stock Exchange) in Milan, will be the first event of the PAM 2nd Standing Committee, and its Economic Panel, to focus on these issues in 2019.
 
The meeting shall review and discuss strategies and an action plan to implement a concrete project structured on:
A scientific committee able to draw guidelines and advice M/SMEs and/or other entities (e.g.
Universities and Public Entities) about their growth possibilities through channels alternative to the traditional credit sector; A map of the above said channels existing in the area and eventually a platform to match offer and demand: “PAM Market for Start-ups and M/SMEs in the Mediterranean”; Dedicated training programs for entrepreneurs to support them in the market through a specific high-profile program of entrepreneurship. 
 
Additionally, the meeting will also analyse the outcomes of the recent Global Parliamentary Conference 2019 Spring Session, held last April in Washington D.C, to assess current priorities for the PAM Panel on the basis of the themes identified by the World Bank and IMF:
Disruptive Technologies and Data for Economic Development; Good governance and Political Accountability; Global Financial Stability: The Role of Fintech and Cybersecurity; Acting Against Climate Change; 
 
Partner International Financial Institution (IFI), such as the WTO, the WB, the IMF, the EIB, the EBRD, the UNCTAD, the UNECE and the OECD, and national and regional business associations, are invited to contribute to the PAM meeting in Milan.//
PAM Regional Office,
Room 5114,
Palace of the Parliament, Strada Izvor 2-4
Bucharest, Romania

Tel: .00356 99352929.
Email: secretariat at pam dot int
Copyright 2019
Parliamentary Assembly of the Mediterranean