Day: May 22, 2024

Tunis: Tunisia’s strategic stock of packaged milk does not exceed 20 million litres, Tunisian Union of Agriculture and Fisheries (UTAP) Vice-President in charge of Information Naceur Amdouni said in interview with TAP’s TV studio, adding that the livestock sector requires a year-round supply of fodder to avoid shortages during some periods.

Some 40 million litres of packaged milk had been stored last year, he pointed out.

The official voiced hope that the strategic stock of packaged milk will reach over 40 million litres next July, which will help meet the demand during prodution downturns.

Amdouni further indicated that the States which achieve sustainable self-sufficiency supply forage throughout the year, thus, guaranteeing regular production.

Source: Agence Tunis Afrique Presse

Tunis: Academic specialist in finance and economics Lamia Jaidane Mezigh has been appointed as member of the Central Bank of Tunisia (BCT) Executive Board for three years, replacing Leila Baghdadi.

The new appointment was published in the Official Gazette of the Republic of Tunisia (JORT) No 63, in accordance with Decree No 332-2024 of May 20, 2024 on the appointment of a member of the BCT Executive Board.

This new appointment was made following a proposal by BCT Governor Fethi Zouheir Nouri and the opinion of the Minister of Higher Education and Scientific Research.

Compliance with the principle of parity is taken into account in the selection of the Board members, who meet at the invitation of the Governor once every two months and whenever necessary. The Governor invites the Board to meet if requested by at least three members.

Source: Agence Tunis Afrique Presse

Tunis: Tunisia Wednesday set in motion a process to review its National Ecological Transition Strategy. The second edition of the Environment Month was also launched.

This process will come to completion by late 2024, Director General of Environment and Quality of life at the Ministry of Environment Hédi Chebili told TAP on the sidelines of an information day on the project Global Biodiversity Framework Early Action Support (GBF EAS).

The event was held in observance of the International Day for Biological Diversity 2024 on the theme “Be part of the Plan.”

Tunisia devised in early 2023 a national strategy for ecological transition (2035/2050) which is intended to imoprove the quality of life of citizens and secure a healthy environment.

The review is focused on five main areas (a total of 53 interconnected measures) and will be supported by the United Nations Development Programme, the official further said.

Tunisia, like all countries across the globe, is confronted with the impact of climate change (wa
ter stress, degradation of the environment and the agricultural production system and pollution) and the loss of biodiversity which, Hédi Chebili said, calls for a strategy review.

The move is geared towards protecting biodiversity, preserving agricultural production systems, adapting to the current situation and aligning with the Global Biodiversity Framework Early Action Support programme, he further said.

GBF EAS is intended to revise national biodiversity strategies and action plans in a bid to bring them in tune with the Kunming-Montreal Global Biodiversity Framework and the objectives of international environment agreements.

Minister of Environment Leila Chikhaoui said the second edition of the Environment Month kicked off (May 25-June 25). A number of events are on the agenda to intensify environment awareness, strengthen ecological culture in different sectors and draw attention to the consequences of the environmental crisis.

Topping the agenda of the Environment Month are the Biodiversity Days (
May 15- June 21, Climate Change Days (May 27-July 3) and Open Days in Water Treatment Plants (May 3 until the end of June).

The genetic heritage Days (May 23 until late June, Environment Technologies Days ( May 22- June 28) are also scheduled. This in addition to the observance of the World Environment on June 5 under the slogan “Our Lands, Our Future, We are the Restoration Generation.”

Source: Agence Tunis Afrique Presse

Tunis: «Economic and trade relations between Tunisia and Poland should be further developed,» said President of the Confederation of Citizen Enterprises of Tunisia (CONECT), Aslan Ben Rejeb, during the Tunisian-Polish Seminar for the Promotion of Trade and Economy held, Wednesday, in Tunis.

The seminar, organized by CONECT in collaboration with the Polish Chamber of Commerce, represents a major opportunity to promote trade and take concrete measures to boost bilateral economic cooperation.

During the meeting, Polish economic stakeholders expressed willingness to invest in Tunisia, particularly in promising sectors, namely in eco-responsible technology, advanced mechanical industries, tourism and agri-food industries.

Polish Ambassador to Tunisia, Justyna Porazinska, underlined that her country is seeking to establish solid relations between the structures representing investments in the two countries. «The Polish Embassy in Tunisia is prepared to facilitate the granting of visas to Tunisian businessmen.»

In 2021, trade between Poland and Tunisia continued to grow despite the coronavirus pandemic. Trade turnover increased by 8.2% compared to the previous year, reaching $470.2 million, according to data published by the Polish Embassy in Tunisia.

Poland’s exports to Tunisia amounted to $153.1 million (an increase of 17.7%), while imports amounted to $317.1 million (+4.2%).

Trade between Poland and Tunisia is largely based on cooperation between companies, many Tunisian factories subcontract for Polish companies (mainly in the sector of electrical cables, automobile parts, textiles), which is translated into a higher value of Polish imports from Tunisia (semi-finished products with added value for Polish factories for further processing) and a lower value of Polish exports to Tunisia.

Source: Agence Tunis Afrique Presse

Tunis: The stock market recorded its fourth consecutive bullish session. The benchmark index rose by 0.45% to 9,338.52 points on a volume of TND 4.7 million, according to broker Tunisie Valeurs.

Land’Or shares led the way. The cheesemaker’s shares rose by 5.8% to TND 8.240, with a flow of TND 718,000.

For 2023, the Land’Or group published a net profit attributable to the group of TND 6.8 million, compared with a deficit of TND 9.9 million for 2022.

ATB was one of the top gainers. The private bank’s shares closed the day up 2.5% at TND 3.27.

SPDIT shares were among the biggest losers of the session. SICAF shares fell by 2.6% to TND 11.100 on a turnover of TND 14,000.

SAM shares ended the session on a gloomy note. The share price of the office furniture specialist fell by 1.7% to TND 5.700.

The stock was traded for TND 126,000 during the session. It should be noted that the stock has gained 29.5% so far this year.

Source: Agence Tunis Afrique Presse

Tunis: The extraordinary career of 2023 Nobel laureate in chemistry, Moungi Bawendi, has become a source of inspiration and pride for the students of the National Engineering School of Tunis (ENIT), who flocked to the university’s auditorium on Wednesday to attend a lecture in English by this illustrious pioneer of research on the occasion of his visit to Tunisia.

Speaking to reporters, on the sidelines of the lecture, Bawendi said he was honoured to have been awarded the insignia of the Grand Officer of the Order of the Republic by President Kais Saied.

‘I firmly believe that education and teaching have an important place in Tunisia,” he said, adding that these two sectors are the only guarantees of a better future for young Tunisians.

Bawendi urged young people to work hard, persevere and be creative. ‘These are the keys to success in life,” he said.

Brilliant and modest, the 2023 Nobel Laureate in Chemistry, son of the late mathematician Salah Bawendi, considers himself a citizen of the world thanks to
his three nationalities (Tunisian, French and American).

‘This prize is a great honour, but also a great responsibility towards young people, because I hope to use my experience to encourage Tunisian students and give them more hope,” he added.

Moungi Bawendi, born in Paris on March 15, 1961, is a Tunisian-French-American chemist and professor at the Massachusetts Institute of Technology in Cambridge, USA. He is one of the pioneers of quantum dots research and one of the most cited chemists in the world.

He is a member of two of the oldest learned societies in the United States, the National Academy of Sciences and the American Academy of Arts and Sciences. In 2006, he received the Ernest Orlando Lawrence Award, given by the U.S. Department of Energy’s Office of Science.

Source: Agence Tunis Afrique Presse

Tunis: The Assembly of People’s Representatives (ARP) adopted at a plenary Wednesday three bills approving three agreements on loans granted by the EBRD, the IBRD and the KFW to the Tunisian Electricity and Gas Company (STEG) to finance the Tunisia-Italy electricity interconnection project (ELMED) and the development of the renewable energy sector.

The first bill, approving a guarantee agreement signed on December 20, 2023 between the Republic of Tunisia and the European Bank for Reconstruction and Development (EBRD) for the granting of a pound 45 million loan to STEG to help finance the Tunisia-Italy electricity interconnection project and the development of the renewable energy system, was adopted by 105 votes in favour, 11 against and 8 abstentions.

The loan will finance a high-voltage direct current (HVDC) submarine power cable with a capacity of 600 MW and a length of 200 km between Tunisia and Italy.

With a total cost of almost EUR 1,014 million, financed by grants and loans from the Tunisian side (S
TEG) and the Italian side (Terna, the Italian electricity transmission system operator), the ELMED project forms part of the socio-economic development plan for 2023/2025 and is in line with the national energy strategy for 2050.

It will help increase the national capacity to exchange electricity between Tunisia and Europe, benefiting Tunisian households by reducing the cost of electricity bills. It will also create new opportunities for Tunisian companies in the renewable energy sector.

In the short term, the ELMED project will enhance Tunisia’s energy security, reduce its energy deficit and help it to achieve its objectives in the fight against greenhouse gas emissions.

In the long term, the project will enable Tunisia to become a supplier of electricity to Italy and strengthen its position in the Euro-Mediterranean electricity market.

The second bill approving a guarantee agreement signed on December 13, 2023 between the Republic of Tunisia and the International Bank for Reconstruction and Development
(IBRD).

It provides for granting of a loan of 20 million dollars by the Green Climate Fund to STEG to help finance the Tunisia-Italy electricity interconnection project and the development of the renewable energy system, was passed with 107 votes in favour, 13 against and 7 abstentions.

The third bill approving a guarantee agreement signed on December 22, 2023 between the Republic of Tunisia and the German Bank for Development and Reconstruction (KFW). It relates to a pound 35 million loan provided to STEG to help finance the Tunisia-Italy electricity interconnection project and the development of the renewable energy system.

The bill was passed with 105 votes in favour, 14 against and 7 abstentions.

Source: Agence Tunis Afrique Presse

Tunis: The Tunisian Shipping Company (CTN) inaugurated on Tuesday a new maritime line between the ports of La Goulette and the Italian ports of Livorno and Salerno for the transport of semi-trailers, trucks, vehicles, containers and conventional cargo, it said in a statement Wednesday.

The frequency will be weekly and the rotation of the service includes calls at the ports of La Goulette (departure from the port on Saturdays at 18:00), Livorno (arrival at the port on Monday at 06:00), Salerno (arrival Tuesday at 06:00), Rades (arrival Thursday at 06:00) and La Goulette (departure on Saturdays at 18:00).

The launch of this new route will open up new opportunities for Tunisian exporters and importers and will facilitate the expansion of their activities on the Italian market, the same source added.

Source: Agence Tunis Afrique Presse

Hammamet: Eighty small and medium-sized enterprises (SMEs) out of a total of 100 beneficiaries of the Tunisian-German cooperation programme “SME Business Training and Coaching Loop” have managed to improve their profitability and overcome the difficulties they encountered after the COVID-19 pandemic, according to an initial assessment of the project, Minister of Industry, Energy and Mines, Fatma Chiboub Thabet, said Wednesday.

Speaking on the sidelines of a certificate handover ceremony in Hammamet on Wednesday, the minister said that this nine-month programme had provided technical advice and support to 100 SMEs operating in the textile, clothing, agri-food, electricity and services sectors in various regions of the country.

The project, which has taken into account the specific characteristics of each company, has helped to strengthen the skills of the beneficiary companies, which are run by young entrepreneurs.

This has been done by introducing innovative management mechanisms and methods, as well as be
tter human resources management to boost exports and digital marketing, she pointed out.

Source: Agence Tunis Afrique Presse

Tunis: The budget balance recorded a surplus of around TND 1.3 billion during the first quarter (Q1) of 2024, down 8.22% compared to the surplus posted at the end of March 2023 (TND 1.4 billion). This is revealed in the document “Provisional Results of Budget Execution” published by the Ministry of Finance.

Budget revenues went up by 12.8% to TND 12 billion in the first quarter, mainly driven by growth in tax revenues (+6.5% to TND 10.4 billion) and non-tax revenues (+20.8% to TND 1.1 billion).

On the other hand, budget expenditure grew at a lower rate of 10.3%, from TND 9.2 billion in Q1 2023 to TND 10.2 billion at the end of March 2024.

The increase in budgetary expenditure is mainly explained by the rise in salary expenditure by 2% to TND 5.3 billion, intervention expenditure by 22% to TND 2 billion and financing costs (debt interest) by 35.4% to TND 1.8 billion.

On the other hand, the budget expenditure allocated to investment decreased by 8.3% and did not exceed TND 0.6 billion.

Subsidy expenses acc
ount for approximately 52% of total government expenses, while investment expenses account for only 6% of these expenses.

Data released by the Ministry of Finance also posted an increase in treasury resources to TND 3.5 billion, compared to TND 0.170 billion a year earlier.

As for subsidy expenditure, it went up by 11.3% from TND 1.2 billion to approximately TND 1.4 billion at the end of March 2024.

The amount allocated to fuel subsidies represents 72% of the total subsidy budget in the first quarter of 2024.

Source: Agence Tunis Afrique Presse