TUNISIAN EXPORTS The principal Tunisian exports are crude oil, minerals, clothing, and agricultural products, including its internationally-renowned olive oil. Tourism is a significant source of revenue and foreign exchange. Tunisia's primary trading partners are France, Italy, Germany, Belgium, Luxembourg, and the Maghreb countries. For further details on Tunisian Exports, visit The Center for Promotion of Exports(CEPEX) A POLICY OF LIBERALIZATION Liberalization measures and reforms have been introduced to promote economic efficiency and lay the groundwork for long-term growth. Improving the environment in which enterprises operate has been the main focus of government action. Since 1988, Tunisia's economic policy has been resolutely outward-looking with the adoption of important reforms: Adherance to GATT in 1990 and original member of the WTO. Elimination of all restrictive measures related to foreign trade and commercial exchanges. Modernization of trade regulations and laws. Adoption of the multilateral rules and principles Implementation of the Association Agreement with the European Union signed on July 17, 1995, setting a free trade area between Tunisia and the European Union. Member of the Great Arab Free Trade Area. and Bilateral agreemnts setting free trade areas with Morocco, Egypt, Jordan and free trade with Libya and Mauritania. Tunisia's economy is also characterized by a rigorous financial policy reflected through: A gradual reduction in the budget deficit to 2.3% of GDP in 2006. An increase in savings to 26.0 % of GNP in 2006. Lower inflation: from 8.1% in 1987 to 4.2% in 2006. Debt control: Tunisia has never rescheduled its debt and has always honored its financial obligations. Debt servicing totals 14.0 % of current export earnings in 2006.