| Project Detail |
High unemployment is a major challenge for the Middle East and Northern Africa (MENA) region. In 2022, the region had a 9.6 per cent unemployment rate. Youth unemployment was 25 per cent and the rate of youth not in employment, education or training was 29 per cent in 2021. At the same time, Foreign Direct Investment (FDI) in North Africa is very low, worth only 15 billion US-Dollars in 2022, of which Egypt alone absorbed 11.4 billion US-Dollars. Only 3 per cent of trade in the Mediterranean occurs between the Southern Mediterranean countries. Low intra-African trade limits MENA countries’ integration into regional and global value chains. The Union for the Mediterranean (UfM) is pivotal for regional exchange and cooperation between its 43 Member States. Its diverse membership makes the UfM the prime platform for dialogue and knowledge-sharing among policymakers, private sector and civil society. Objective Regional cooperation in the areas of employment, trade and investment is improved within the framework of the Union for the Mediterranean. |
