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Why the North African market? All the characteristics mentioned in the main section are features of the Maghreb countries of North Africa. What distinguishes them from the other emerging markets? Firstly, the North African market is an opportunity still to be discovered for many players, even for global players. Secondly, North Africa is geographically much closer from the European point of view than Asia or South America. However, perhaps the most significant factor is the will and ability of these countries to approach the European Union. Officially this can be seen in the ratification of the Mediterranean convention and the oncoming formation of the Mediterranean Union but unofficially there is also strong evidence of this. For example, Algeria is harmonizing its legislation to be in accordance with EU directives. The North African countries are also easily accessible by sea as they all have several established ports and reasonably-functioning and ever-improving logistics. |