Two years after being hit by the coronavirus pandemic, sustainable sectors could be the solution for the recovery of Mediterranean countries, but the mission is not easy to carry out.
For this reason, the private sector needs to work with all the actors of the business ecosystem and pool all needed resources and efforts to achieve the ambitious SDGs forecast for the 2030 agenda, draining a significant number of investments, and creating a good number of jobs for youth and women across region and beyond.
Since its creation, Businessmed, Union of Mediterranean Confederations of Enterprises, supports the efforts of the coalition of actors for an exemplary Mediterranean region in 2030 calling for a concrete and urgent strengthening of regional cooperation.
The blue economy is on the top of the regional agenda, since the Mediterranean Sea generates an annual economic value, which is comparable to the larger economies in the Euro-Mediterranean region.
Businessmed, as private sector representative, is pushing for the development of a sustainable blue economy in 22 countries of the area, including Malta, promoting a modern, resource-efficient, resilient, and competitive environment that improves living conditions and contributes to social solidarity while preserving socially scalable investments and business continuity particularly in the aftermath of the COVID-19 pandemic. This also foresees the strengthening of platforms of exchange of virtuous models for internationalization of businesses.
Supporting the blue economy through the adoption of incentives ranging from taxation to applicable labor standards, from blockchain as a simplification tool for the movement of goods and people, to the creation of intermodal micro-hubs is of outmost importance for employers’ organizations of the region.
The blue economy is on top of the regional agenda
This implies a stronger transport and logistic sector to foster competitive economies, trade and investments in our region. For instance, the scramble to establish Africa-to-Europe commercial corridors has given rise to a new global engagement with North Africa that is reshaping the basic economic architecture and the geopolitics of the region. With China, Russia, Turkey, and the Arab Gulf states playing increasingly significant roles in the development of these corridors in the southern Mediterranean, the European Union system confronts a pressing strategic challenge to form a coherent and effective policy in North Africa. Within Businessmed, SMEs and private sector organisations are working hand-in-hand with TVET institutions in the view of using of a cross-shared educational strategy for the establishment of a community to coordinate climate change actions in the Mediterranean’s countries.
Sectoral market research services, quality certification, methods of registration and protection of trademarks and the validation of patents and innovation services, are among the tracks that opens for more equitable blue trade between countries of the Mediterranean.
And this is not only valid for the blue sector but particularly for greening the economies in the Southern Neighbourhood, the blue being the new green today, with educated young people shaping it.
If we look closely at the supply chains, Businessmed has acted over the years to advocate for a stronger diplomatic action linking the Mediterranean countries, aware that only cooperation can help safeguard the sea and the environment to develop industrial relations, technology-based innovative solutions which have helped SMEs going international.
Within its mission and projects, Businessmed is supporting new sustainable and equitable business opportunities for youth and women-led start-ups, MSMEs founders and young graduates engaged in the emerging and innovative sectors of the blue and green economy offering significant potential for economic growth and sustainable transition in Tunisia, Egypt and Lebanon (Investmed project).
The future of the Mediterranean largely depends on how public and private actors are able to set clear, measurable, and internally consistent goals and targets for a sustainable blue and green economy to create a level economic and legislative playing field providing with adequate incentives and rules.
In this context, Businessmed employers’ organizations with the help of the Union for the Mediterranean, need to adopt a systemic approach, drawing together innovations in enabling technologies, market design, business models and system operations; promote R&D roadmaps and strategies and new data that can sway decision makers, emphasizing stakeholders’ partnerships and build international cooperation. Promoting access to innovative financing and deploy sustainable finance initiatives to direct investments into economic activities that can enhance the overall ecosystem will be also key.
Marco Cunetto is EBSOMED Project Coordinator, Businessmed