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Roundtable on Investing in Tunisia

A roundtable on investing in Tunisia was held at the Arab-British Chamber of Commerce on 30 September hosted jointly by ABCC Chairman Sir Roger Tomkys and Secretary General & CEO Dr Afnan Al-Shuaiby.

The high-powered delegation from Tunisia was led by Mr Ridha Mosbah, Tunisian Minister for Trade and Handicrafts, who was joined by Mrs Mongia Khemiri, Chief Executive of FIPA Tunisia, head of the country’s foreign investment promotion agency.
They were joined by H E Mrs Hamida Mrabet Labidi, the Ambassador for Tunisia in London and diplomatic staff from the Embassy.
The meeting was held to discuss the various opportunities for UK investors opening up in the Tunisian market in the context of the current emerging recovery in the global economy.
A distinguished panel of representatives of British business had been assembled by the ABCC for the occasion. Officials from the UKTI were also present.
Sir Roger remarked that Tunisia and the UK had historically enjoyed close relations and that the UK as part of the European Union shared common interests with the country as a Mediterranean neighbour. These interests extended from the commercial and economic system to issues relating to the environment that could not be dealt with by countries acting alone.
H E Ridha Mosbah, the Minister, detailed the steps taken by Tunisia to prepare for a new economic era including how it is opening up increasingly to attract foreign direct investment.
The country’s private sector was strong and the social policies adopted by the Tunisian government over the years had created a prosperous society where 80 percent of the population were in the “middle class”. 

Receiving many positive plaudits from international observers such as the IMF and World Bank, the Tunisian economy was a success story which UK businesses and investors needed to know more about.
The Minister said that his visit was designed to deepen and build on the successful relations that already exist with the UK.
He highlighted some of the areas where business links could be most profitably developed such as the textiles sector. Tunisia saw great potential supplying to the UK market with textile goods but had so far not been able to make many inroads. Similarly, Tunisian food producers were looking to penetrate the UK market. Tunisian produce such as olive oil was of a high quality but unfortunately was not very well known among UK consumers.

It was felt that the ABCC might play some kind of role to bring together Tunisian manufacturers and UK buyers at some point in the future.
One of Tunisia’s greatest challenges today was employment creation for its graduates and youth entering the job market. In response, Tunisia was focusing on the development of new innovative industries and has been seeking to attract investors in R&D, renewable energies, biotechnology, ICT and aerospace industries. The country had established technoparks to encourage investors in these important new sectors.
One area of possible cooperation identified by speakers at the roundtable was in providing British expertise to help develop industries in Tunisia. A representative from the British automotive industry took part in the discussion.
Mrs Khemiri, of FIPA Tunisia, outlined the incentives for investors offered by Tunisia including a ten-year tax holiday, special incentives for export-only firms and concessions for those setting up in development areas.   
The ABCC remained ready to assist in the promotion of trade and investment between the UK and Tunisia in future, Dr Afnan stated.