Economic axis under Arab umbrella

Egypt's Minister of Information Safwat A1-Sherif said that Egypt moves on the economic axis under the Arab umbrella and in accordance with the resolutions of the Arab Summit and the Arab League.

Commenting Wednesday on current Egyptian-Iraqi talks in Cairo, Al-Sherif said that Egypt, under the leadership of President Hosni Mubarak, strongly believes in the importance of Arab solidarity and building Arab attitudes on sound foundations to face challenges encountered by the Arab nation.

An agreement to set up a Free Trade Zone between Egypt and Iraq will be signed Thursday.

Al-Sherif pointed out that President Mubarak has consistently called for the establishment of an Arab Common Market.

He stressed that Egypt acts on the basis that every step of economic cooperation represents a link in the Arab Market and, consequently, a step, which expresses the aspirations and ambitions of Arab peoples in the face of big international challenges.

Al Sherif expressed confidence that economic rapprochement with Iraq will form an important element in Arab relations to face these challenges.