Best way for successful economic summit
The economic authorities in the Arab capital cities are looking forward to the Arab economic summit called for by Egyptian President Hosni Mubarak in the latest Amman summit.
Mubarak's appeal got unanimous Arab approval and is expected to convene in Cairo next November.
The anticipated gathering aims at boosting inter-Arab trading so as to rise from 8.5 % up to 20 % over the five coming years. The financing funds are to be reactivated, particularly in regard to the vital exportable goods. Experts consider the expected Cairo economic summit an important step towards setting up the Arab common market.
Former Egyptian prime minister, Ali Lotfi, called for liberating inter-Arab trades and total cancel of customs barriers that hinder flowing of Arab commodities. He also asked to discuss accords of preventing double taxing .
The chairman of the Arab Industrial Development Organization (AIDO) asserts submitting a work-paper ready to be executed on applying the rules concerning some industrial articles. He added that the AIDO is preparing executive plans for standard Arab specifications for Arab goods and products.
Ibrahim Quwaider, chairman of Arab Work Organization (AWO) indicates the necessity of providing suitable environment for enhancing the volume of Arab investments. He asked to expand the role played by financial establishments to assist the infrastructure projects carried out by the private sector.
Ex-minister of economy, M. al-Saied suggested setting up an Arab stock exchange market to attract the emigrant Arab capitals, estimated by some economic circles to amount to thousands of billions. He proposed as well to constantly or periodically follow up Arab activities to monitor any faults and try to solve them in time.
