Blogger Widgets
News Update :

Tunisia, a competitive investment site

Jul 14, 2012

Tunisia’s thriving economy creates an attractive environment for investors from the European Community, Japan and the United States. More than 3,069 foreign firms have direct investments in or joint ventures with Tunisian companies in 2009 (including 74 US companies). Tunisia’s proximity and preferential trading relations attracted many of these firms with the European Community and the Arab Maghreb Union, as well as by the Investment Code that offers tax and customs concessions to foreign investors and facilitates project approval.
According to the Global Competitiveness Report 2011-2012, prepared by the World Economic Forum in Davos, Tunisia ranks 40th at world level. Compared with the 2010/2011 rankings, Tunisia has kept its leadership in Africa, and is down by three places at the Arab level, ranking 7th, with Oman, Bahrain and Kuwait ahead.
Tunisia is also quoted as a model of economic success by international institutions and is awarded first-rate rankings in terms of competitiveness across the African and Southern Mediterranean area.
On the other hand, The World Bank's Doing Business 2010 report classified Tunisia among the 10 best ranked countries in the Arab World due to its significant reforms in the tax system, the welfare system and trading across borders. The country has introduced electronic payment, which has reduced the frequency of payments, tax-payment compliance times, and tax evasion and transaction costs. Enterprises can now fill out forms for their social security contributions on line. It also put up a one-stop e- window called Tunisian Trade Net, which intends to simplify procedures for trading across borders. Tax-system reforms combined with streamlining of +public expenditure have made it possible to improve public-finance indicators.

TUNISIA /USA Bilateral Agreements:
• Framework Agreement of Economic and Technical Aid dated March 26, 1957.
• Agreement Concerning the Guarantees Granted to Investments dated March 19, 1959.
• Cultural Cooperation Agreement dated September 28, 1979.
• Non-double Taxation Agreement, dated June 17, 1985.
• Treaty Concerning the Reciprocal Encouragement and Protection of Investment dated May 15, 1990.
• Scientific and Technological Agreement signed on June 22, 2004 in Tunis

Trade and Investment Framework Agreement (TIFA) signed in Washington on October 1, 2002 (on the sidelines of the 4th ministerial conference of USA-Maghreb Economic Partnership) is subject to ongoing negotiations.
Share this Article on :


Post a Comment


© Copyright Sharing Knowledge 2010 -2011 | Design by Newsupdate 2012 | Published by Newsupdate 2012 | Powered by