Participants in the Mediterranean Economic Leaders Summit, which was held on June 3, 2010 in Barcelona, called to adopt ambitious reforms to stimulate the private sector and encourage investment in the Mediterranean region. The participants stressed the need to complete the Euro-Mediterranean free trade area, demanding the reduction of protective measures, and removing obstacles to cross-border trade.
The summit also acted as an opportunity to inform the contractors in the Mediterranean countries of the economic opportunities provided by the Union for the Mediterranean (UfM). Additionally, the summit also called for the promotion of the competitiveness and spoke of small and medium projects as a driving force for economic development in the Euro-Mediterranean region.
The economic representatives urged the Mediterranean countries' governments to work towards involving the private sector and encourage its active participation in all policies established by UfM.