Day: March 5, 2024

The weather Tuesday is temporarily cloudy in most regions, growing sometimes very cloudy in the north with scattered and temporarily stormy in north-west regions.

The wind is blowing west relatively strong to strong near coast and on heights and light to moderate elsewhere.

The sea is very choppy in the north and in the guld of Hammamet and choppy elsewhere.

Temperatures are slightly up with highs ranging between 14°C and 20°C in the north and on heights and between 20 and 24°C elsewhere.

Source: Agence Tunis Afrique Presse

The Arab Institute of Business Leaders (IACE) has recommended “a non-traditional approach” to the management of the street economy, in this case the “Souk de la rue d’Espagne”, while “keeping it in its natural environment by exercising control through the regularisation of the situation of informal traders, territorial management, the issuing of licences, the imposition of taxes and fines and, above all, the establishment of timetables for the installation and dismantling of street markets.

In a recently published note entitled “Solutions to the challenges of the informal and street economy in Tunisia: between research and socio-economic issues,” the Institute explained that the street economy is defined as the exchange of all kinds of goods and services in public spaces such as streets, street corners and squares.

It encompasses all kinds of economic, social, cultural and artistic activities that take place on the streets.

Previously scorned by economists and politicians, this economy has become the main
provider of the needs of the poor, with hundreds of sub-sectors.

The IACE considered that the creation of formal markets, organised in closed centres rather than on the streets, is not a sustainable and economically profitable solution for street economy professionals, due to the limited capacity of formal markets, the loss of the strategic aspect of this economy, and land and budgetary obstacles… Hence the need to define an alternative, far from approaches based on repression or marginalisation.

What is needed are gradual, flexible and inclusive mechanisms to ensure that this activity is properly regulated and reconciled with the demands of urban life.

That said, the IACE underlines the need to integrate street vendors and merchants in an orderly manner that respects the urban environment, by developing dedicated, regulated spaces that are appropriate for each player, and by ensuring that they do not enter into direct competition with neighbouring commercial establishments.

In addition, the Institute r
ecommends carefully selecting the beneficiaries of these spaces, giving priority to those who have demonstrated their ability to make a stable and sustainable livelihood out of it, in order to guarantee a degree of control over the activity and ensure that participants comply with the laws in force.

The IACE further reiterated the need for the gradual legalisation of the informal market, with a view to its full integration into the legal framework.

“The establishment of appropriate fiscal and administrative mechanisms, while keeping a presence on the street, offers a way towards effective regulation while avoiding an abrupt transition that could upset the current balance,” the institute pointed out.

The latter also considered that it would be wise to establish administrative and civic control to guarantee compliance with the set rules.

“The regularisation of traders, territorial management and the imposition of reasonable taxes will help preserve order while promoting harmonious coexistence,” reads the no
te.

The Institute also recommended flexible opening hours for these activities, which will help harmonise the street economy with urban life.

Source: Agence Tunis Afrique Presse

An online marketplace called “Souk Lemdina” dedicated to the promotion of Tunisian crafts was launched at the initiative of the Medina of Yasmine Hammamet in collaboration with the Tunisian startup “ileycom.”

This is a multi-dimensional marketing platform accessible on both the local and international markets, designed to provide support for local craftspeople and young entrepreneurs.

“Souk Lemdina” will offer a diverse range of craft products, from works of art and decoration to fashion and wellness items, showcasing the exceptional skills of the Medina’s craftspeople.

Customers will be able to buy handicrafts online and receive them anywhere in the world, thereby helping to preserve and promote traditional Tunisian craftsmanship while supporting the local economy.

Source: Agence Tunis Afrique Presse

A system for settling dual jurisdiction disputes within the World Trade Organisation (WTO) and preferential treatment for developing and the least developed countries in the application of agreements on sanitary and phytosanitary measures and technical barriers were adopted at the end of a negotiating marathon held at the WTO’s 13th Ministerial Conference (MC13).

A Ministerial Decision supported by Tunisia on reforming the dispute settlement system, which enshrines the principle of dual jurisdiction at the WTO and guarantees a transparent and participatory approach to negotiations, was also adopted during this 13th Ministerial Conference, held on February 26-March 1 in the UAE, reads a Trade Ministry press release.

The members further adopted, as part of the Abu Dhabi Ministerial Declaration, provisions to improve use of the special and differential treatment (S and DT) provisions for developing and least developed countries (LDCs) aimed at helping them benefit from technical assistance so as to implement t
he Agreement on the Application of Sanitary and Phytosanitary Measures (SPS Agreement) and the Agreement on Technical Barriers to Trade (TBT Agreement).

Talks on agriculture and fisheries were not successful, given the divergent positions of member countries, said the Trade Ministry.

The MC13 further provided an opportunity for the Tunisian delegation to defend the country’s stance on the need for a fairer, more efficient and global multilateral trading system within the WTO.

Tunisian officials also seized the opportunity to confirm national positions on issues under negotiation, pending the holding of other ministerial conferences.

The Tunisian delegation highlighted, in connection to e-commerce, the importance of taking the “development” dimension into consideration in negotiations underway within the organisation. It proposed that an international compensation mechanism be set up for developing countries and the least developed nations in order to remedy the lack of customs revernues resulting from fai
lure to leby customs duties on electronic transactions.

With regard to the agricultural sector, the Tunisian delegation emphasised the need to show greater flexibility towards net food importing countries, including Tunisia, so as to avoid forcing them to reduce local subsidies granted to farmers.

In another connection, the delegation voiced commitment to the right of developing countries to special and preferential treatment in maritime fisheries.

The delegation likewise defended the principle of joint responsibility so that countries responsible for depleting fish stocks should bear a greater share of the burden. Developing countries, such as Tunisia, can thus pursue their policy of developing and reforming the sector in such a way as to safeguard their food security.

Source: Agence Tunis Afrique Presse

Some 101 reports of water cuts were logged by the Tunisian Water Observatory in February 2024.

Sfax took the lead with 18 reports, followed by by Nabeul (16), data published Tuesday by the observatory show.

The observatory recorded 13 protests over difficutlites to access drinking water or water supply issues.

These data were published following the announcement by Director General of Rural Engineering and Water Exploitation at the Ministry of Agriculture, Water Resources and Fiheries Abdelhamid Mnejja that 115 water projects had been completed with a further 92 in progress.

Source: Agence Tunis Afrique Presse

The inflation rate decreased to 7.5% in February 2024, according to a press release issued by the National Institute of Statistics (INS) on Tuesday.

The inflation rate continues its downward trend, going from 7.8% in January 2024 to 7.5%.

This decline in inflation, despite the monthly increase, is attributed to the slowdown in the pace of price increases between February and January 2024 compared to the same period last year.

Food prices up 10.2%

Food prices rose by 10.2% year-on-year in February 2024. This rise was mainly due to a 35% increase in coffee powder prices, a 22.5% increase in sheepmeat prices, a 21.8% increase in edible oils, an 18.5% increase in condiments, a 15.2% rise in fresh vegetables prices, a 12.2% increase in beef prices and an 11.7% growth in fresh fish prices.

Rise in manufactured goods and services’ prices

Over the year as a whole, prices of manufactured goods rose by 7.4%, driven by a 4.7% increase in the price of building materials, a 10% rise in the price of clothing and a 9.
7% increase in the price of household products.

In services, prices rose by 5.4% year-on-year, mainly due to the 10.4% increase in prices for restaurants, cafés and hotels, the 13.8% rise in financial services and the 9.1% rise in health services.

Core inflation stands at 7%.

The core inflation rate (excluding food and energy) rose to 7% from 6.8% the previous month.

Prices for free (unregulated) products went up by 8.4% year-on-year. Prices of regulated products rose by 4.4%. Free food products increased by 11.2%, compared with 3.6% for food products with regulated prices.

In terms of contributions to inflation by sector, the “Manufactured goods” group and the “Services” group were the sectors that made the greatest contribution to overall inflation, at 2.8% and 1.9% respectively.

By scheme, the contributions to inflation show that the ‘Free Non-Food’ group and the ‘Free Food’ group are the groups that have made the greatest contribution to inflation, at 3.8% and 2.7% respectively.

On the other hand,
the “regulated food” group made the smallest contribution at 0.1%.

Consumer prices rise by 0.2% over one month

In February 2024, consumer prices rose by 0.2%, following an increase of 0.6% in the previous month.

This increase is mainly attributable to a 0.7% rise in food prices and a 5.2% rise in the price of health services.

On the other hand, clothing prices fell by 4.5%, as a result of the winter sales.

Food prices up 0.7%

Over one month, food prices rose by 0.7%, following increases of 3.8% for sheepmeat, 1.6% for beef, 1.2% for edible oils, 0.9% for fresh vegetables and 0.9% for fish.

By contrast, fresh fruit prices fell by 1.1% and poultry prices by 0.9%.

Prices of health products and services increase 5.2%

Prices in the Healthcare group rose by 5.2%, due to a 10.5% increase in the price of medicines and a 0.2% increase in the price of private ambulatory services.

Clothing prices down 4.5

In February, clothing prices fell by 4.5%, due to the start of the winter sales season. Clothing prices w
ere down by 4.8%, footwear by 4.7%, clothing accessories by 1.7% and fabrics by 0.9%.

Source: Agence Tunis Afrique Presse

The market ended Tuesday’s session on a gloomy note, sliding 0.5% to 8656.7 points, in a modest volume of TND 3.7 million, according to broker Tunisie Valeurs.

SOTETEL shares took the lead; the shares of the specialist in telecommunications networks improved by 5.9% to TND 3.940, attracting trades worth TND 112,000.

Assurances Maghrebia Vie were among the biggest winners of the session. The shares of the life insurance company increased by 3.2% to reach TND 5.830, mobilising a flow of TND 250,000.

STAR stock suffered the biggest drop of the session. Without being subject of any transactions, the shares of the first insurance company in Tunisia fell 4.5% to TND 152.710.

The UNIMED stock fell by 1.8% to TND 7.190. The shares boosted the market with a volume of TND 87,000 on the session.

SAH LILAS was the flagship value of the session. The shares of the national champion of hygiene products showed a good performance in continuity with the last sessions (+0.4% to TND 8.590), supplying the market with capital
of TND 1,200.

Source: Agence Tunis Afrique Presse

Tunisia is taking part in the International Tourism Exchange in Berlin, Germany, (ITB), the world’s biggest tourism event, ongoing from March 5 to 7.

Tourism and Handicrafts Minister Mohamed Moez Belhassine inaugurated the Tunisian pavilion at the 55th edition of the fair on Tuesday, said a Ministry press release.

The minister took note of the components of the Tunisian pavilion and engaged in discussions with various Tunisian professionals attending the exhibition.

He emphasised the importance of these events in supporting Tunisian tourism and further promoting the Tunisian destination, especially as the fair draws over 5,500 exhibitors from 170 countries.

The current edition of the ITB saw significant participation from Tunisian professionals in sectors including hospitality, travel agencies, sustainable tourism, aviation, as well as officials from destination management structures in Zaghouan, Mahdia, Djerba, and Tunis Carthage.

Source: Agence Tunis Afrique Presse

Italy’s newly appointed ambassador to Tunisia, Alessandro Prunas, underlined Rome’s commitment to supporting Tunisia in developing the bilateral partnership and extending financial cooperation to the multilateral level, especially in view of Italy’s presidency of the G7 summit in 2024.

In a meeting on Tuesday with Finance Minister Sihem Boughdiri Nemsia, the diplomat reaffirmed the determination to strengthen coordination between the various stakeholders and speed up the implementation of several ongoing cooperation programmes.

Minister Nemsia highlighted the “deep historical ties between Tunisia and Italy and the strong bonds of friendship and bilateral cooperation,” according to a ministry statement.

She also stressed the importance of continuing joint action to strengthen the partnership and develop economic cooperation, both bilaterally and multilaterally.

Minister Nemsia noted that Tunisia has managed to withstand the successive crises that have marked the international economic and geopolitical land
scape, despite their direct impact on public financial balances.

She added that Tunisia has met its external financial commitments and is also working to boost growth, production factors and wealth creation.

Source: Agence Tunis Afrique Presse