The Memorandum of Understanding (MOU) signed in 2017 sets the vision and governance framework for establishing a Pan-Arab Electricity Market (PAEM). The signing of the MOU officially launched a five-stage development plan. The World Bank has engaged with the League of Arab States (LAS) to support establishing the envisaged PAEM and enhance the enabling environment for advancement of trade in the region. In this regard, detailed market rules and a formal transmission pricing regime have not yet been developed for the approval of the Arab Ministerial Council for Electricity (AMCE).