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AMU agrees to start establishment of free circulation area

12-02-2010 11:31 BJT

ALGIERS, Dec. 1 (Xinhua) -- The secretary general of the Arab Maghreb Union (AMU) Habib Ben Yahia said here Wednesday that the AMU would establish a free circulation area after a long delay.

During the 16th AMU food security ministerial conference, the AMU secretary general said in a statement that the agreement would be submitted to the AMU's Council of Ministers for Foreign Affairs after being signed by the commerce ministers, then would be officially implemented after being ratified by each member.

He said the negotiation process for this agreement had been difficult. At present, economic and trade exchanges inside the AMU only amount to less than 3 percent of foreign trade volume in this area, he said, and hoped that this agreement could promote internal trade within the AMU.

In the early 1990s, AMU members discussed and drafted an economic integration strategy to establish a free trade area, a customs union, a common market, and a full economic union. Though the scheduling of the strategy was agreed on by all members, economic diversity and other factors delayed its implementation.

Founded in February 1989, the AMU has five members, namely Algeria, Libya, Morocco, Mauritania and Tunisia.

Editor:Du Xiaodan |Source: Xinhua

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