The 21st edition of the Tunisian Investment Forum (TIF) will not fail to create a new dynamic of collaboration between the two shores of the Mediterranean, said ambassador of the European Union (EU) in Tunisia, Marcus Cornaro.
In an interview with TAP Agency, the diplomat recalls that over 3,400 European companies based in Tunisia have created 407,000 direct jobs.
Cornaro also gave a general overview of the forum, the agreements that will be signed and the vision for a triangular EU/Tunisia/Africa strategy, in addition to the European instruments used to foster innovation and entrepreneurship potential of Tunisian startups.
TAP: The EU is partnering with IFAP for the organization of TIF 2024. Could you provide a general overview about participation, particularly the European participation, as well as the main goals set to this event?
Marcus Cornaro: The 21st edition of TIF, which will be held from June 12 to 13, 2024 under the theme «Tunisia, Where Sustainability Rhymes with Opportunity,» will welcome nearly 700 participants; over 550 of them have already confirmed their participation.
The European participation will be marked by the presence of large companies operating, particularly in the fields of energy, engineering, pharmaceutical industries, agriculture, agri-food and financial services.
The programme dedicated to this new edition, which is developed in partnership with FIPA, includes three major sessions. The 1st session «Boosting Foreign Investments in Tunisia: Reforms and Opportunities,» will represent for the Tunisian government a platform which will help present the main axes of its vision in terms of economic growth as well as the role of investments in achieving this goal.
It is also an opportunity to emphasize the ongoing openings towards greater competitiveness and the efforts made to catch up on delays in both the energy and digital fields.
The second session under the theme «Sustainability, a Key to Competitiveness in Tunisia,» will focus on four major sectors; namely the automotive components produced in Tunisia, green energy, renewable energy and the pharmaceutical sector.
B to B meetings will be held during the third session.
Regarding the pharmaceutical sector, I would like to emphasize Tunisia’s pivotal position, in terms of research and production capacity.
The main goal set during this forum is to create synergy between the private sector and public operators. This synergy will focus on the know-how of Tunisian and European investors.
TAP: Can you give us more details on the agreements that will be signed during this event?
Marcus Cornaro: The agreements, which will be signed as part of the TIF 2024, will focus on three main components. The first component will shed light on the energy sector, particularly, the ELMED electrical interconnectivity support project, with financial support of €449 million.
The second agreement concerns economic recovery between the EU and Tunisia in terms of financing support for small and medium-sized businesses, with an amount of more than €200 million. This agreement includes a grant component and another part mixing loan and grant with other European stakeholders.
The third part concerns an important agreement signed with the European Investment Bank (EIB). It aims to fund initiatives in order to open up disadvantaged areas in the field of infrastructure (Sfax-Kasserine highway).
We are also in the final stages of finalizing a memorandum of understanding on the energy aspect which will help the two parties (the Tunisian and European sides) to clarify and better define the framework within which future investments can be made in this area.
TAP: In your opinion, what are the opportunities for triangular partnership between Tunisia, Europe and Africa?
Marcus Cornaro: The establishment of a bilateral strategy (between Tunisia and the EU) relating to the pharmaceutical sector will be the best example which will allow Tunisia to become a portal to Africa. Tunisia has a strategic geographical position allowing it to foster trade at the regional level across the Mediterranean.
TAP: Will TIF 2024 present new European instruments for developing the innovation and entrepreneurship potential of Tunisian startups?
Marcus Cornaro: I would like to recall that Tunisia is already ahead at the Maghreb level, thanks to its legal framework governing startups in Tunisia start-up Act 2018.
TAP: To what extent have the promises made by the EU in previous editions of the TIF been kept and what challenges have hindered their achievements?
Marcus Cornaro: I can say that all the promises have been kept, particularly in terms of cooperation and donations. With regard to private investments, the decisions and the implementation phase remain the responsibility of all the parties concerned.
Certainly, in recent years the complicated framework, particularly with the COVID -19 pandemic, has had an impact on the investment dynamic, but once these crises have been overcome, many opportunities will be seized thanks to the establishment of a more competitive regulatory framework.
Finally, I would like to reiterate the main goal of this new edition which is to set up a joint platform which will send the right messages in four key sectors and give a certain impetus to investors.
