The 5th Euro-Mediterranean Ministerial Conference was held on April 27th and 28th 2002 in Valencia, Spain.
The 27 Euro-Mediterranean Partners adopted unanimously a Plan of Action designed to give new impulsion to the Barcelona Process. The Plan of Action has been immediately initiated. It includes short-and middle-term initiatives aiming at strengthening the political dialogue and the economic, commercial and financial cooperation, as well as emphasizing the social, cultural and human dimension.
The Ministers also agreed on the creation of a Euro-Mediterranean Foundation, with the aim to promote the dialogue between cultures and civilizations, and approved a Plan of Action oriented towards the young, education and mass media.