1- An
appropriate economic environment
A strategic position
Situated in the heart of the Mediterranean basin just south of
Italy, with a total area of 162.155 square kilometres and a
population of 9.931 million inhabitants,
Tunisia occupies a strategic position which allows the
establishment of direct links with the European Union, North and
West African and Middle eastern countries. Thus, Tunis is only
one-hour flight from Rome and two hours away from many cities in
Europe and the Mediterranean basin.
In direct
line with its age-old vocation of open land and of relay point for
international exchanges, Tunisia made the choice during the eighties to
further liberalise its economy and integrate it within world economy.
A market economy
Tunisia adopted several reforms aiming at the re-establishment of market
mechanisms and encouragement of private initiative. These measures
concern notably price liberalization,taxation
reduction,current convertibility of the Dinar (the national
currency), disengagement of the state from
competiting activities to the
profitof the private sector, and
introduction of reforms into the monetary and financial system.
This action entailed a remarkable performance during the last decade in
terms of economic growth rate (an average of more than 5% per year), of
inflation control which rate has been maintained at a comparable level
with that of industrialised countries, and in terms of external
indebtedness rate reduction.
An
open up on the world economy and a free access
to European union market
The liberalisation of economy extends to foreign trade. Tunisia is a
signing member of the GATT, a founding member of the World Trade
Organization and a signing member of agreements related with agriculture
on sanitary and phystosanitary measures.
Another significant development is the signing of an agreement for the
establishment of a free-trade area with the European Union providing the
gradual suppression of customs duties on industrial products over a
period extending out to 2008.
Tunisia was the first South-Mediterranean country
to sign such an agreement with the European Union.
All these agreements, while enforcing the integration of Tunisian
economy within the market globalization context, offer new opportunities
of production and marketing for Tunisian companies.
In order to support the effort of the companies to adapt themselves to
the requirements of international competition and to take profit from
the new opportunities, an ambitious national program has been set up for
the restructuring and upgrading of the production system in the country.
2- Assests
for investment and pratnership
Many factors are involved to make of Tunisia a
particularly attractive country for investment
and partnership projects, notably:
-The
proximity of European market and other neighbour markets (Maghreb and
Middle-East): This closeness allows an appreciable reduction of
transport costs and delivery delays, compared with similar countries.
-A remarkable political and social stability: The signature
of a National Pact by all political parties and social leaders as well
as the setting up of consultative structures contributed to the
establishment of a social climate favourable to development.
-Tunisia has an excellent reputation on the international financial
markets : It is a signer of many treaties on investment guarantee and
non-double taxation, and of conventions related with international
arbitration and intellectual property protection. On the “risk” side,
Tunisia is in the first rank in Africa and has a very good position
among the best emerging markets.
-A competitive economic system : the report elaborated by Davos
International Economic Forum with Harvard University, places Tunisia in
the 38th rank for growth and global competitivity from 102 countries.
-A motivating and stimulating tax legislation for investment: The Tunisian Investment Incentives Code grants
common advantages for all types of
activities and specific advantages for sectors
and activities considered as priority ones as agriculture and fishing
are concerned
-Adequate supporting structures:
Tunisia has established a number of agencies for supporting investment
development :
The Agency for the Promotion of Industry API
The Agency for the Promotion of Agricultural Investment APIA
The Foreign Investment Promotion Agency FIPA),
The Centre de Promotion des Exportations (CEPEX)
a number of specialised technical centres,
a unified procedure for enterprises’ creation
-A developed transport network: Tunisia has eight international harbours
well equipped for various transportation modes. Marseilles, Genoa and
Barcelona are 24 hours away from Tunis by ferry and are well served by
regular shipping lines.
Airport infrastructure is composed of seven international airports
located throughout the country and used by major European and
middle-eastern airlines.
The roads network of over 32 000 kilometres provides easy access to all
economically interesting areas in the country .
-A performing telecommunication network : Huge investments have been
made for the development of a modern telecommunication system covering
all areas of the country ; therefore, telephone services (fixed and
mobile), telex and fax facilities, swift and Internet networks are
available at advantageous conditions .
-Availability of credit lines: Tunisia has negotiated with friendly
countries a program of credit lines to favour the development of
joint-venture projects and trade exchange with these countries.
3-
Facility terms and guarantees for foreign investors
• Free benefits and products transfer of assignment assets invested
including the most been worth: Law 93-48 instituting the current
convertibility of the Tunisian dinar.
• Bilateral agreements of investment protection and concluded with
Germany, Belgium, Spain, , France , Italy, Netherlands, Portugal, United
Kingdom, Sweden, Switzerland, Turkey, South Korea, Indonesia, USA and
Arab Countries.
• Bilateral agreements of non-double taxation concluded with Germany,
Austria, Belgium, Canada, South Korea, Denmark, Egypt, Spain, France ,
Indonesia, Italy, Jordan, Norway, Sweden, United Kingdom, USA , and
Maghreb.
• Adhesion in April 1993 to the New York convention insuring
acknowledgement and carrying out of foreign arbitrating sentences .
• Agreement with the MIGA (Multilateral Investment
Guarantee Agency) for covering non-commercial risks.
• Adhesion to the WTO.
• Agreement partnership Euro-Mediterranean signed between Tunisia and
European Union in 1995.
