Tunis and Paris promote SMEs' listings on the Tunisian stock market
The two Bourses signed an agreement to strengthen their cooperation.The stock markets of Tunis and Paris have signed an agreement designed to strengthen the sharing of expertise and to support the listing of Tunisian SMEs.
It also aims to "develop the financial center of Tunis and to strengthen financial and economic exchanges between the two nations," reads the document.
As part of this cooperation, Paris Europlace, the association representing the interests of the French financial center, will help the Tunis Stock Exchange "establish a structure reflecting the diversity of players in the financial industry ".
Paris is also committed to share its experience in supporting and encouraging SMEs to enter the stock market.
With this line of credit, the two stock exchanges hope to ease access to the financial market for Tunisian SMEs, which represent 95 per cent of the country's businesses.
These companies often face difficulties to access bank loans, since they are not able to provide the guarantees required by commercial banks. The stock listing can thus offer an alternative source of funding.