Lebanon could sign an economic partnership pact with the European Union (EU) in a year’s time, minister of economy and trade, Basil Fuleihan, was quoted as saying by the Daily Stae newspaper.
“The signing of a Euro-Med agreement should not take years, because the EU has changed its attitude toward the Mediterranean,” he said.
The Euro-Med partnership agreement envisions a free-trade zone among countries of the Mediterranean Basin, as well as liberalizing their agricultural and service sectors.
Fuleihan, who will head a delegation to Brussels in February to resume negotiations with EU officials, said he expects the first round of talks to set the pace for a speedy agreement.
the paper said that European commission president, Romano Prodi, is expected to meet Prime Minister Rafiq Hariri next month in Beirut.
The EU signed an association agreement last week with Egypt and has signed similar pacts with Tunisia, Morocco, Israel, the Palestinian Authority, and Jordan.
“We have already surpassed the first hurdle, customs duties,” said Fuleihan.
“There are no major obstacles left.”
The two remaining issues are the agricultural sector, which is heavily protected by the Lebanese government, and further tariff cuts, which should be phased out completely according to an agreed timetable, said the minister -- Albawaba.com
