Marrakech is currently the venue for the Fourth Edition of the Marrakech Economic Parliamentary Forum, taking place on June 19-20. This significant event has gathered parliamentary and economic representatives from the Euro-Mediterranean and Gulf regions to tackle urgent global and regional challenges that have become increasingly pressing in today's interconnected world.
As stated by the Parliamentary Assembly of the Mediterranean (PAM), the Forum is held under the esteemed High Patronage of His Majesty King Mohammed VI and is organized in collaboration with the House of Councillors of Morocco, alongside partnerships with the Parliamentary Network of the World Bank and the International Monetary Fund (IMF). PAM characterizes this Forum as “the leading regional platform for parliamentary dialogue in the Euro-Mediterranean and Gulf regions focused on economic growth and integration.”
Key Themes of Discussion
The discussions at the Forum are structured around four vital thematic pillars: addressing global public debt and trade barriers, fostering investment in artificial intelligence, enhancing job creation through regional incubators and promoting the blue economy, as well as evaluating the impact of climate change on food security. These topics are crucial for developing a shared understanding of the economic landscape and creating effective policies that can lead to sustainable growth.
PAM has emphasized that the goal of the Forum is to fortify cooperation among parliaments, enabling them to translate parliamentary engagement into actionable outcomes. This initiative aims to pave the way for a stable, technologically advanced, and resilient future for the Euro-Mediterranean and Gulf regions, particularly in light of the current economic climate characterized by rising public debt and structural inequities.
Addressing Economic Pressures and Climate Challenges
The backdrop for this Forum is a landscape marked by escalating global economic pressures. Data from the UN Trade and Development indicates that the median public debt-to-GDP ratio reached 54% in 2024, highlighting the intensifying fiscal pressures, especially in developing economies. PAM has pointed out that these financial strains are exacerbating existing inequalities and leading to broader trade tensions and instability, which threaten the principles of multilateralism essential for effective collective responses to shared challenges.
In response to these issues, the Forum is poised to explore regional cooperation models as viable alternatives to fragmented global governance frameworks. It will investigate initiatives inspired by agreements such as the African Continental Free Trade Area (AfCFTA), CETA, and the EU-Mercosur agreement, while also emphasizing the importance of strengthening Euro-Mediterranean and Gulf integration as a pathway to more resilient economic systems.
Artificial intelligence will also be a focal point of discussion, as PAM highlights the current concentration of AI development within a limited number of regions, leaving others constrained by financial gaps, regulatory fragmentation, and inadequate computing infrastructure. The Forum will deliberate on the potential to establish a “Euro-Mediterranean and Gulf AI community” rooted in ethical governance and sustainable practices, encouraging public-private partnerships and investment in high-performance computing infrastructure.
Moreover, the blue economy is set to play a significant role in the discussions. PAM references European Commission estimates that place the blue economy's turnover at nearly €890 billion, contributing €250.7 billion in value added, while the World Bank suggests that this sector supports nearly 50 million jobs across Africa, with potential growth to 78 million by 2063. The Forum will assess the blue economy's contribution to sustainable growth, food security, biodiversity protection, and climate resilience.
Additionally, the Forum will address energy transition and climate change through proposals such as establishing a Parliamentary Energy Community for the Euro-Mediterranean and Gulf regions. PAM insists on the urgent need to expand the utilization of renewable energy sources to meet environmental objectives while accommodating the increasing energy demands resulting from digital transformation. Financing mechanisms will also be a central topic, including the exploration of a potential Mediterranean Development Bank aimed at bolstering infrastructure, supporting SMEs, and enhancing investment flows, all while mitigating development gaps and promoting private sector engagement.
As reported by moroccoworldnews.com.
