Arab economic council demands border measures facilitation
Regional, Economics, 2/17/2005

The Arab League (AL) social and economic council concluded its meetings in Aden, Yemen. The final statement assigned the AL general secretariat to prepare the technical aid program of the less growing Arab states in preparations to including these states within the Greater Free Arab trade Zone. The council also called for easing border measures between the Arab states.

The participants in the meetings discussed the project of the Arab Free Trade zone implemented since the beginning of 2005 and drawing a formulated strategy for Arab economic integration.

The Arab ministers of economy and finance discussed the rules of origin issue and reactivating the common agreement for investing Arab capital, in addition to the economic report which will be submitted to the Arab summit due to be held in Algeria in March.

The Yemeni prime minister Abdul Qader Bajmal considered the beginning of work in the Arab Free Trade zone agreement as a serious step to the establishment of the Arab Common market.

Bajmal said that Yemen seeks to make reforms of the customs fees, an important beginning for financial and administrative reform and a window that overlooks the market in the neighboring Arab states and countries of south east Africa. He underlined the importance of enhancing a genuine partnership between the Arab governments and the private sector which he described as being bellow expectations.

He also indicated reforms taken by Yemen in order to liberate the trade and investment and confirmation of financial and administrative decentralization.

Previous Stories:
  Unemployment covers 25 million persons in the Arab states   (2/12/2005)
  Arab Venture Capital Union to meet Sunday   (2/10/2005)
  Starting up the Arab stock exchange   (2/10/2005)

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