Special to AG-IP News Agency

PARIS/AMMAN - The Board of Directors of IPEMED, the Mediterranean World Economic Foresight Institute, held its meeting on the 29th of November 2018 in Paris in the presence of the newly elected board members, Talal Abu-Ghazaleh and Elizabeth Guigou.

The board meeting approved the budget for 2019 and the action plan including inter-French-Arab economic cooperation.

The major decision of the board was the endorsement of establishment of the foundation « La Vertical-AME » an organisation to boost the integration of the Africa Mediterranean Europe Axis. The name of the foundation was chosen as the signal of the interaction between the three regions through a straight vertical line extending from South Africa to Finland.

A meeting dedicated to « La Verticale- AME » approved the choice of Brussels as the legal domicile of the foundation.

The Launch meeting will be held in Brussels at a future date to be coordinated with the European Union after completion of the legal establishment formalities. The invitees will be from the three regions equally and the Founders meeting will then elect its governance board and its executive directors.