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Tunisia has been on a hard road to recovery since the revolution that ousted President Ben Ali in 2011, and political uncertainty persists. Albeit cautiously, foreign investors are steadily returning to take advantage of the opportunities in sectors such as outsourcing, tourism and energy. Exploration licences for offshore oil and gas are attracting much interest. Privatisation programmes are expected to resume, although the clean-up of assets held by the Ben Ali family still has a long way to run. Economic growth in Europe is a significant factor for Tunisia, given that 80% of its exports go to France.
Many international firms presently see little scope for large deals in Tunisia, clearing the path for domestic firms; Jurismed, Adly Bellagha & Associates and Ferchiou & associés are among the most prominent in the market. Nonetheless, several international law firms do retain a substantial Tunisian practice.
Notably, Eversheds LLP ended its relationship with CWA Tunisia as the latter’s former key partner Fares El Heni moved over with a team to found Eversheds El Heni.