Global Arab Network | Tunisia diversifying trade markets to avoid eurozone crisis | Economics

Global Arab Network | Tunisia diversifying trade markets to avoid eurozone crisis | Economics: "Tunisia diversifying trade markets to avoid eurozone crisis PDF Print E-mail
Wednesday, 30 June 2010 23:21

Tunisia is increasing the diversification of its trade markets in a bid to avoid the worst effects of the deepening debt crisis in the eurozone, with the contagion in southern Europe having the potential to spread to the other side of the Mediterranean.

In a recent report, compiled before the alarm bells over the massive debts of Greece, Portugal and Spain reached full volume, the IMF warned that Tunisia's economy is highly dependent on EU countries. The report, issued in mid-May, said that up to 90% of Tunisia's earnings from exports, tourism, remittances and FDI came from member states of the EU."