Öz This article attempts to analyze the en ı ergence and development of EC/EU's Mediterranean Policy initiatives, the motives behind these initiatives, their degrees of success and failure and, finally, their future in context of the Middle East developments and especially Arab-Israeli conflict and Peace Process. After the overview of early relations between the EC and Mediterranean Countries in 1960s, the Global Mediterranean Policy which is designed in early 1970s and the Renovated Mediterranean Policy which is launched in late 1980s, it focuses on the overall assessment of the Barcelona Process, which is by far the most relevant of existing Euro-Med Initiatives, with its potential and difficulties in light of the results of the ministerial meetings from Malta in 1997 to Valencia in 2002.