Economic prosperity in the EU depends on growth from within, but also on external factors such as geo-political stability. This is particularly important for member states on the periphery of the continent, who on the one hand are part of the EU single market, but on the other hand, whose economy is also substantially integrated with neighbouring countries outside the bloc. This year marks the 25th anniversary since the Barcelona Declaration, which brought together EU member states and the southern Mediterranean partners, with the aim of turning the region into an area of stability and prosperity through dialogue and cooperation. This partnership was strengthened in 2008 through a more permanent setup in the form of the Union for the Mediterranean as an operational institution.