An intention to push inter- Arab trade into a ceiling of $ 60 billion
Regional, Economics, 12/31/2001

The Arab economic unity council has called on the Arab states to re-structure existing industries in the council member states with the aim to increase the ability of these industries to compete in world markets.

The official memorandum circulated by the council on its member states stressed the need of embarking on advanced technology to implement industrial projects to improve the quality of these industries so as to be attracted to the consumer in the Arab and foreign states, alike.

The memorandum urged the need of maintaining cooperation among the Arab states in the industrial fields so as to improve Arab industries quality and quantity.

On the other hand, the secretary general of the Arab economic unity council Ahmad Jweili said that the volume of inter- Arab trade reached USD 27 billion, at a rate of 9% of the inter- Arab trade with other states. He stressed the council's efforts to promote this trade to USD 60 billion.

He also stressed the need of re-arranging the Arab house to attract Arab investments abroad. He explained that the Arab states still have expatriates investments for its citizens. He continued that Arab investments out of the Arab states is estimated at USD 800-1000 billion, while inter- Arab investment is small and its accumulated value did not exceed USD 15 billion during the period between 1985- 2000.

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