ARAB NATIONS
COUNTRY FOCUS – TUNISIA Opportunities abound in Tunisia
growth of its economy and develop its industries. Currently Australian company interests are consolidated within the oil sector, however Tunisia presents many other opportunities for investment.
T
unisia is in the process of implementing plans, programs and agreements in order to further the
Tunisia is working towards a
comprehensive development plan with the assistance of the World Bank, establishing in 2007 a 10-year National Development Plan (NDP) and receiving US$280m in loans from the World Bank in 2010 as part of a Country Partnership Scheme to support the NDP. The NDP identifies global integration as key to boosting economic growth and aims to increase growth to 6.1 per cent. Also in March 2010 the EU signed a Memorandum of Understanding with Tunisia which included a National Indicative Programme worth €240m, which focuses on development in the areas of employment, integration, business and justice.
Spices market in Medenine. Tunisia has established a stable
economy primarily due to the diversity of the economy, with agriculture, mining, tourism and manufacturing all important sectors. GDP growth has been steady at five per cent for the last decade, with the real GDP per capita increasing by 46 per cent. While the Global Financial Crisis slowed growth down in 2009 due to a reduction in demand from Europe, its impact on Tunisia was only moderate in comparison to other nations.
Engaging with Europe and the USA Since establishing an Association Agreement with the European Union in 1995, European nations such as France and Italy have been Tunisia’s principle import and export sources, with some 75-80 per cent of Tunisia’s exports. Besides of establishing bilateral agreements with the EU, Tunisia is part of a Free Trade Zone established in 2001 with Egypt, Jordan and Morocco and also negotiated in 2005 a Free Trade Zone with the United States.
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The mausoleum of Habib Bourguiba. Science City in Tunis.
Increases in tourism and alternative energy Tunisia is looking to increase its tourism industry through the development of infrastructure and further promotion of the country as a tourist destination. In 2008, 7.1 million tourists visited Tunisia, generating US$1.5 billion in income. Tunisia is also looking into
alternative forms of energy. It is one of five Middle Eastern and North African nations selected by the World Bank’s Clean Technology Fund to receive financing as part of the Concentrated Solar Power Program.
Australian & Tunisia Australia has a minimal import and export relationship with Tunisia. The
AUSTRALIA AND THE ARAB COUNTRIES | 2010
primary export is meat (excluding beef), while clothing is the major import from Tunisia. There are, however, some Australian companies with interests in Tunisia, primarily in the oil industry. Cooper Energy has an offshore drilling site in the Hammemet area, while Oil Search has held both sole operator and joint interests in various drilling sites since 2007. Three Australian energy companies, Nexus Energy, AuDAX and Kariki, each hold a 33.3 per cent share in an area currently being studied for oil and gas exploration. Alpine Oil and Gas, which was acquired by AuDAX in 2007, obtained an oil research permit in September 2009. With the opening of Tunisia’s economy and continued development efforts across all sectors, Australian companies' interests in Tunisia have the opportunity to diversify in all areas, not just oil, and benefit from a growing economy. p
The tree-lined Habib Bourguiba Avenue in Tunis.
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