The World Bank 2018 figures showed that the MENAP region has a total population exceeding 500 million people and a GDP of around $3 trillion. According to the report, the total market capitalisation in the MENAP region, which consists of 15 countries, is currently almost ten times lower than that of 15 European countries. Economic integrationThe first lever of economic integration is selective deregulation, which would break monopolies, foster healthy competition, drive productivity and value creation. “Many existing regulatory frameworks across MENAP are designed for traditional products and services, and are therefore regionally highly fragmented. The third element that is crucial for economic integration is ‘standardised norms,’ which would facilitate operating in multiple markets without additional compliance costs.

Source: The North Africa Journal January 28, 2020 07:52 UTC