BUSINESSMED attended the workshop relating to the “External Investment Plan” (EIP), i.e. one of the new instruments of the European Commission aimed at putting the relationship with the European Unions’ neighbouring countries as well as with Africa on new bases. Taking place in Brussels on March 20^th, 2018, several representatives from the private sector, from non-governmental organisations as well as intergovernmental organisations gathered to address the issues of where the EIP stands and especially its third pillar dealing with the investment climate – next to the two other pillars regarding the European Fund for Sustainable Development (EFSD) as well as technical assistance. A special emphasis was thereby put on the cooperation with the African continent by addressing in more detail the sustainable business for Africa (SB4A) platform and the value chains where African economies could integrate into the global economy.

After very clearly structured and useful presentations of the state of play by representatives of the EIP – mostly by representatives of the EC’s International Cooperation and Development Directorate-General (DG DEVCO), but also from the Directorate-General for Neighbourhood and Enlargement Negotiations (DG NEAR) and the Directorate-General for Internal Market, Industry, Entrepreneurship and SMEs (DG GROWTH) –, several interventions outlined the need for increased and more visible promotion of this instrument. It was in fact highlighted that the conceptual nature of the EIP seems to be highly attractive, but that the instrument would not be effective enough if investors and business people are not aware of it. Next to some remarks and questions concerned with the actual application procedure for obtaining funds stemming from the EIP, many panellists and participants highlighted furthermore the major opportunities that Africa presents in terms of investment and welcomed the development and deployment of this new instrument.

The meeting was particularly useful for BUSINESSMED, as it enabled the outlook of further opportunities for cooperation within the framework of the EIP with other actors particularly concerned and interested in the Euro-Mediterranean ecosystem. It is in this sense that BUSINESSMED could profit mostly from attending this workshop.