New Euro-Mediterranean energy partnership

Ministers from the EU Member States and from the Mediterranean partner countries, launched today the new Euro-Mediterranean energy partnership, at the 5th Euro-Mediterranean Energy Ministerial Conference that is taking place in Limassol, Cyprus. Ministers and the Commissioner endorsed the Ministerial Declaration and its 2008-2013 Priority Action Plan for Euro-Mediterranean cooperation in the field of energy which gives a new impetus to the EU external energy policy in the region.

The Action Plan focuses on three main areas:

Firstly, to ensure the improved harmonisation of energy markets and legislations and to pursue the integration of energy markets in the Euro-Mediterranean region;

Secondly, to promote sustainable development in the energy sector;

Thirdly, to develop initiatives of common interest in key areas, such as infrastructure extension, investment financing and research and development.

For the next four-year period, the EU will devote more than 3.2 billion Euros for Euromed cooperation. A good share of this could be channelled to the priorities identified in the Action Plan. This financing will be in combination with Member States' bilateral cooperation envelopes, the Facility for Euro-Mediterranean Investment and Partnership of the European Investment Bank, as well as other instruments such as the upcoming Africa Infrastructure Partnership.

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