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UAE Economy Minister partakes Arab Economic Summit

posted on 15/01/2009: 787 views

The upcoming Arab Economic, Social and Development Summit is very strategic as it will shed the light and discuss serious topics related to co-operation between Arab countries in several areas of socio-economic growth. It is essential to build an Arab consensus towards the current economic variables, said the UAE Minister of Economy Sultan Saeed Al Mansouri yesterday.

Al Mansouri is leading the UAE delegation to Kuwait to participate in the common Ministerial Meeting for Foreign and Economic Arab Ministers on January 16. At the meeting, the ministers are expected to draft resolutions required for the Arab Economic Summit discussions that will take place in Kuwait on Jan 19 and 20.

Arab economic integration, he added, can be achieved only by strengthening economic agreements and updating it to be in line with international and regional changes. He stressed the importance of reviewing various economic parameters to meet the international challenges.

The Ministers will discuss several topics that are aimed at strengthening co-operation in socio-economic growth and development. Many projects are expected to be finalized at the meeting and thus be ready for the Economic Summit.

The said projects include: The Arab electric power grid network; Arab Railway Network; Emergency Programmes for Food Security; Arab Customs Union; Water Integrated System; Arab Programme to Combat Unemployment; Arab Programme to Fight Poverty, Development Programme for Poor Countries, Education Development, and Health Care Improvement projects.

He underscored a possibly unified Arab position on the global trend to develop and modernize economic systems and approaches, urging for speeding up action towards Arab economic integration, implementing Arab economic pacts as well as reconsidering approaches to Arab joint economic action so as to face global economic challenges.

Arab economy, finance and Foreign Ministers will focus on the role played by the private sector and ways in which it can facilitate growth and development for the Arab citizen.

A number of proposals backed by studies and aimed at providing the average Arab citizen with improvements will be presented to Arab leaders at the summit.

The summit will also discuss the current global financial crisis and the present economic situation in the Arab world.

The sessions, which will be open to the public, will be centred on the role of the private sector and civil institutions in the economic landscape in Arab countries. – Emirates News Agency, WAM


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