New UMCE president

F.O.I. President Adrian Bajada, together with the presidents of business associations from Algeria, Cyprus, Egypt, Israel, Jordan, Lebanon, Morocco, Palestine, Syria, Tunisia and Turkey, took part in the General Assembly of the Union of Mediterranean Confederations of Enterprises (UMCE), of which the FOI is a founding member.

Omer Sabanci, president of the Turkish Industry and Business Association (TUSIAD), was elected unanimously as the new leader of the Mediterranean business community for a one-year term at this general assembly, which was held in Istanbul on Monday. Mr Sabanci replaces outgoing UMCE president Hassan Chami of CGEM-Morocco.

In his address following his election, Mr Sabanci said: "In 2005, UMCE will give priority to relaunching the Barcelona process in its tenth year. Particularly, the target of promoting the private sector and the free trade in the Euro-Mediterranean area will be the focal points.

"The increase of the trade in goods and services as well as the investments among the Southern and Eastern Mediterranean countries is also an essential goal. In this respect, the European Union's Lisbon Strategy in view of greater economic competitiveness will be an important reference for strengthening the Mediterranean economic integration strategy.

"As a member of UNICE (Union of Industrial and Employers' Confederations of Europe) and in parallel to Turkey's EU membership process, TUSIAD is committed to the peace and economic growth in the Mediterranean region."