Council of economic unity starts work tomorrow in Cairo
Regional, Economics, 5/31/1999

The meetings of the 69th session of the council of Arab economic unity are to begin in Cairo tomorrow, on the level of Arab League permanent representatives and ministers on June 2 - 3 at the Arab League under the chairmanship of Palestine.

Hassan Ibrahim, secretary general of the economic unity council, said the main target of this session is to discuss the subject of liberalizing inter-Arab trade in light of bilateral and multi-lateral systems and agreements as well as reviewing the features and main trends of Arab trade and the role of Arab trade as motive to achieve Arab economic integration.

The secretary general added that in this session they will review the outcomes of meetings and recommendations of the follow-up and implementation committee concerning the Arab common market that held its meetings on May 14 - 15, adding that the ministerial council of the economic unity council will discuss the resolution of Egypt's Cabinet on May 12 to activate the Arab common market.

He said the Cabinet's decision shows that the common market is the suitable context for the current period that will enable the Arab states to achieve a comprehensive liberalization of inter-Arab trade, as well as a balance between policies of export and import. He said it would also facilitate the exchange of goods between Arab states and upgrade trade, expanding the base of industrial production and increase employment.

The Arab ministers of economy in the unity council will discuss a report from the AL secretary general that includes eight basic articles, the most important of which is the development of the executive decision to implement the Arab common market in light of the Arab Parliamentary Union's efforts and agreements, bilateral, multi-party system to free up trade exchange between Arab states, as well as the agreement on establishing the Arab common market in light of the GATT treaty and trade benefits within the reflections of globalization and the World Trade Organization.

They will also discuss trade interests in light of developments in negotiations of the European - Mediterranean partnership.

Previous Stories:
  Morocco calls for new ABD approach in relations with African countries   (5/28/1999)
  $700 million to finance mutual Arab trade   (5/28/1999)
  Foreign investments in Arab states worth $2.2 billion   (5/26/1999)
  Arab common market: Low inter-trade reveals problem, part 2   (5/12/1999)

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

Search