Participants in the two-day meeting expressed deep concern over the dire medium- and long-term economic forecasts for the region, the resurgence of inflation – caused by the unprecedented rise in energy and food prices and the ongoing disruption of global value chains – and the impending global financial recession.
In this regard, they recognized the growing demand from all countries in the Euro-Mediterranean and Gulf region for a more integrated structured cooperation in the energy sector, based on mutual benefits and geared towards sustainable sourcing and a green transition.
In this regard, they encourage governments to work towards the creation of an Economic and Energy Community between the Euro-Mediterranean and Gulf countries, which would mitigate the effects of the current energy crisis and the resulting increase in global inflation levels, while ensuring that the regions are more resilient and independent in the face of external shocks, within the framework of a carefully planned ecological transition and supporting long-term economic growth and prosperity.
The Forum, in its recommendations, also called on all member countries of the Parliamentary Assembly of the Mediterranean (PAM) to resume political and technical discussions, at all levels, to establish a free trade zone between the Euro-Mediterranean and Gulf countries, as stated in several resolutions unanimously adopted by PAM members.
An appeal was made to the Member States to rapidly ratify the agreements concluded at the 12th Ministerial Conference of the World Trade Organization.
Moreover, the WPA expressed its determination to promote all necessary diplomatic efforts to ensure that all grain trade routes from Eastern Europe remain open and secure, in order to alleviate the food crisis and prevent famine and shortages, as well as further increases in commodity prices worldwide.
