The Arab Maghreb Union has "tremendous" economic integration potential, according to Abdelaziz Ait Ali, senior economist at the Policy Center for the New South (PCNS).
Speaking at "Africafé" program of the PCNS, Mr. Ait Ali underlined that the Arab Maghreb Union has a huge economic integration potential, given the several factors of rapprochement linking its countries, namely language, religion, culture and ties of brotherhood.
The economist mentioned in this regard some studies estimating that the gain from economic integration for the Maghreb countries could reach 2% more growth over the long term on a continuous basis, noting that this would have a significant impact in terms of job creation and economic development in these countries.
However, trade in goods between these countries remains currently very low, around 2 or 3%, he lamented, adding that investments are also at a low level, despite the development of production systems in those countries.
At the same time, the economist said he was optimistic about the economic integration of the Maghreb countries, noting that in the long term, the train of integration cannot be derailed, given the various factors of rapprochement.
He added that it is preferable for these countries to integrate with countries at a comparable rate of development, adding that integration with highly developed countries could stir up tensions.
In this regard, he insisted on the importance for these countries to change their development model, in a context where countries are talking about decarbonization and the carbon tax, noting that countries have an interest in thinking about a model of horizontal integration, which will make it possible to seize the numerous opportunities offered in the region.
