EC/Egypt agreement: Euro-Mediterranean association agreement

PURPOSE : to conclude a Euro-Mediterranean Association Agreement between the European Communities and their Member States and the Arab Republic of Egypt. CONTENT : the proposal constitutes the legal instrument for the conclusion of the a Euro-Mediterranean Association Agreement between the EC and their Member States and the Republic of Egypt. The proposed Association Agreement between the EU and Egypt will open a new era in bilateral relations and will consolidate the Euro-Mediterranean partnership launched by the 1995 Barcelona Declaraton. It will contribute to peace and security in the region and will stimulate trade and economic relations between Egypt and the EC and between Egypt and its Mediterranean partners. The Association Agreement focuses on the following main elements: - a political, economic, social and cultural dialogue with Egypt; - provisions for enhanced regional co-operation, including the creation of a regional Euro-Mediterranean free trade area; - the establishment of a free-trade area between the European Community and Egypt with improved concessions on agricultural products and the elimination of tariffs on industrial products within 12-15 years after the entry onto force of the Agreement; - provisions on the movement of persons, on the rights of establishment and supply of services; and on payments, competition and the movement of capital; - provisions for economic and financial co-operation on a wide range of fields; - provision for the establishment of an Association Council to supervise the implementation of the agreement, and of an Association Committee. The Association Council shall take measures to promote co-operation between the European Parliament and the Egyptian People's Assembly. It should be noted that the procedures for the conclusion of the Agreement are different for the European Communities: (European Community and the European Coal and Steel Community). As regards the conclusion of the Agreement, the Council concludes the Agreement on behalf of the European Community, after having received the assent of the European Parliament, by virtue of Article 310 of the Treaty; the Commission concludes the Agreement on behalf of the European Coal and Steel Community, by virtue of Article 95 of the ECSC Treaty, with the unanimous assent of the Council and the following consultation of the Consultative Committee. In line with the above the Commission requests the Council to conclude the Agreement.�