French President Nicolas Sarkozy (C) shakes hands with Israeli Prime Minister Ehud Olmert (R) and Palestinian President Mahmoud Abbas during a news briefing at the Elysee Palace in Paris, France, July 13, 2008. Leaders of the European Union (EU) and countries around the Mediterranean gathered in Paris on Sunday to forge a union. (Xinhua Photo)

A 2005 summit in Barcelona, Spain under the umbrella of the so- called "Barcelona Process" failed to attract heavyweights from the Middle East. The Union for the Mediterranean was designed to build on the Barcelona Process.

Apart from national leaders, the Paris summit was also attended by European Commission President Jose Manuel Barroso, UN Secretary General Ban Ki-moon as well as representatives from half a dozen international and regional organizations. Libyan leader Muammar Gaddafi, however, boycotted the summit.

"It is an extremely moving and important moment for me -- something that we have been dreaming about for some time and that dream has now come true," said a beaming Sarkozy.

Despite Sarkozy's optimism, much of the union remains on paper. There was no agreement on where the next summit will take place, nor on the seat of a secretariat, its financing, and the nationality of the secretary general.

The countries have yet to agree on the financing of the projects.

The complicated situation in the Middle East, particularly the Israel-Palestinian conflict, poses as strong tests to the prospects of the union.

"The way forward is open and nobody can take that away from us, " argued Sarkozy, admitting that there is difficulty ahead.