[P]At the 8th Euro-Mediterranean Ministerial Meeting on Industry in Malta today European Commission Vice-President Antonio Tajani launched a set of far reaching proposals for the progressive integration of markets between the EU and the Mediterranean as well as the setting up of a Small Business Act (SBA). Introduced successfully in the EU in 2008 the SBA in the Mediterranean area should help to unleash grass roots entrepreneurship at a mass scale to build dynamic and vivid economies in the neighbour countries.[/P] [P]European Commission Vice-President Antonio Tajani, responsible for industry and entrepreneurship said: [I]"The EU needs to give a clear signal that a strong industrial cooperation and the creation of a favourable environment for SMEs is of mutual benefit for Mediterranean neighbours and the EU. Further economic development and job creation is essential for political stability in the region, as well as help to manage migration. It is more important than ever for those involved in the network to discuss how to build an even stronger business partnership." [/I][/P] [P]Vice President Tajani called for promoting an entrepreneurial spirit and SMEs and enhancing industrial cooperation in the region. [/P] [P][B]2011-2012: A new framework for enhanced cooperation[/B][/P] [P]Vice-President Tajani highlighted also the progress made in 2009/2010, within the framework of the implementation of the Euro-Med charter for enterprise. In his view, the Charter was bound to evolve and he hoped to be able to talk soon about a veritable Small Business Act in the Mediterranean area. [/P] [P]He called for reinforced action under the 2011/2012 work programme which was approved by the Ministers of Industry today. [/P] [P]He highlighted that establishing further cooperation in other areas such as tourism, space policies, extraction of raw materials, as well as technology transfer and innovation is crucial to the further development of the region. A strategy on how to extend EU initiatives in these areas to Mediterranean countries is to be decided. [/P] [P]Moreover’, Agreements on Conformity Assessment and Acceptance of Industrial Goods (ACAAs), and how to better facilitate trade were crucial issues discussed by the conference today.[/P] [P][B]Background[/B][/P] [P]The Union for the Mediterranean consists of a network of 43 countries. The ultimate objective of Euro-Mediterranean industrial cooperation is to create a Euro-Mediterranean region in which companies in Mediterranean countries and the EU can export, import, invest, build business partnerships and create jobs in the same conditions of efficiency and legal certainty as those prevailing on the European single market.[/P]