Arab-Latin summit seeks to abandon economic barriers
Regional-Latin America, Economics, 5/10/2005

The Brazilian capital is witnessing today Tuesday the inauguration of the first summit of its kind between the Arab states and countries of southern America aiming at abrogating economic barriers among the 36 countries taking part in the summit.

Observers said that the participation of huge number of Arab companies in the summit has compensated the notable absence at the official side.

News reports said that behind the curtains are bilateral agreements between the participating sides taking part in the Arab- Latin American summit.

However, the foreign ministers of the Arab states and the southern American countries held a preliminary meeting for the summit in order to discuss the summit's agenda and approving recommendations.

The secretary general of the Arab League Amr mousa commended the efforts made by the Arab and Latin American states to prepare for the summit. He said that the preparations which had started since 7 months aimed at discussing joint cooperation means between the two groups. He stressed that the economic side constitutes a basic pillar among many others to be discussed by the summit.

Moussa indicated that the volume if trade exchange between the Arab states and Brazil increased at a rate of 50% at the beginning of this year.

He added that the summit will open the door for signing a partnership agreement between the Gulf Cooperation Council GCC member states and the "Mercosur Bloc" which includes Uruguay, Argentina, Paraguay and Brazil in addition to agreements due to be signed within a bilateral context between several Arab states and southern American countries.

Arab businessmen taking part in the summit's huge trade and industrial exhibition in Saint Paulo said they find in this country a good atmosphere for businesses less intensive than that in the USA and Europe and high quality products at competitive prices.

Some 800 companies including 200 Arabs will take part this week in this exhibition which will be held on May 12 and 13 in Saint Paolo, immediately after the end of the summit.

Previous Stories:
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  Culture can step up historical Arab-Latin American ties, Minister   (3/25/2005)

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