The European Union-Mediterranean Free Trade Area (EU-MED FTA, EMFTA), also called the Euro-Mediterranean Free Trade Area or Euromed FTA, is based on the Barcelona Process and European Neighbourhood Policy (ENP). The Barcelona Process, developed after the Barcelona Conference in successive annual meetings, is a set of goals designed to lead to a free trade area in the Mediterranean Region and the Middle East by 2010.
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A Regional Convention on pan-Euro-Mediterranean preferential Rules of Origin was signed to allow identical rules of origin across the region.
History
The Agadir Agreement of 2004 (FTA between Jordan, Tunisia, Morocco, Egypt) is seen as its first building block. Further steps are envisioned into the ENP Action plans negotiated between the European Union and the partner states on the southern shores of the Mediterranean Sea.
The initial aim is to create a matrix of Free Trade Agreements between each of the partners and the others. Then a single free trade area is to be formed, including the European Union.