Cabinet considered the decision to hold the First Arab Economic Conference in Cairo in November
Egypt-Regional, Economics, 3/31/2001

The Cabinet expressed appreciation of the efforts exerted by President Hosni Mubarak with Arab leaders during the two-day Arab Summit which ended its meetings in Amman, Jordan, Wednesday.

The meeting of the Arab Summit on a permanent annual basis came as a result of the efforts of President Mubarak and opened the door for action to set up a new Arab order.

Minister of Information Safawt Al-Sherif said that the Cabinet reviewed the important political decisions taken and the efforts exerted at the Arab Summit to realize Arab solidarity and overcome problems blocking the way to joint Arab action.

The Cabinet adopted several decisions to activate the Arab Summit resolutions, particularly on the economic arena.

The Cabinet considered the decision to hold the First Arab Economic Conference in Cairo in November upon an initiative by President Mubarak.

The meeting considered studies and working papers to be drawn up to develop Arab financial and economic relations, smooth the flow of goods, capital and investments in a manner which reflects an increase in inter-Arab investments and financial deals.

A ministerial technical working group will be set up to meet during a reasonable period ahead of the economic conference to draw up the working papers to be presented to the conference.

The Cabinet reviewed decisions related to the activation of the Arab Free Trade Zone which will be set up to develop organizations to increase inter-Arab trade and remove obstacles, other than customs barriers, in addition to elements which could affect the customs sector among Arab states.

A working group of the Ministers of Economy, Finance, International Cooperation, Industry, Agriculture, Trade and Military Production will be set up to activate the free trade zone.

The Cabinet also reviewed Arab Summit resolutions stressing the need to launch work in the Arab services market and liberalize services trade in order to realize integration among Arab countries.

A committee has been set up in this respect, composed of Ministers of Electricity, Transport and Communications, Tourism and International Cooperation.

The Ministries of Communications and Military Production have been asked to lay down mechanisms to activate Arab cooperation in the field of information technology (IT) as well as proposal to set a permanent body to include Arab Ministers of Communications to support information technology and activate cooperation in this field.

Previous Stories:
  Egypt to export gas to Jordan, Syria, Lebanon, Turkey   (3/15/2001)
  Privatization attracts foreign direct investment in Middle East   (3/14/2001)
  Nile Basin states discuss joint water projects   (3/8/2001)

Please add a link on your webiste pointing to ArabicNews.com and bookmark ArabicNews.com & subscribe to our daily email news bulletin.

Search