News

Maghreb Bank for Investment and Foreign Trade to be created

Date: 30/12/2009
Source: TAP
The foreign affairs ministers of the Arab Maghreb Union (AMU) on Tuesday decided measures to create the Maghreb Bank for Investment and Foreign Trade as soon as possible so that it contribute to strengthening investment and boosting trade exchanges.

They also decided, during the AMU foreign affairs ministers’ council meeting held in Tripoli to nominate a Tunisian as general manager of the Bank for a four-year term and entrust Algeria with the chairmanship of its board of directors during the first three years. Edifying the Arab Maghreb Union is a strategic choice in Tunisia’s foreign policy.

The country has carried out, as instructed by President Zine El Abidine Ben Ali, efforts to further boost the Maghreb process. Decisions of the AMU foreign ministers reflect the sincere will of the Maghreb officials to boost joint action and speed up its pace to meet the Maghreb peoples’ aspirations. They crown the steps taken by Tunisia under President Zine El Abidine Ben Ali’s leadership to materialise the Arab Maghreb unity.