Study points need for a common Arab market

An Arab economic study has stressed that the common Arab market has become a necessary and urgent matter for the interests of the Arab states under the challenges facing the Arab nation amid the age of gigantic international blocs and globalization, noting that the Arab food gap reached at the meantime $ 10 billion.

The study which is prepared by the general commission for information in Egypt said that the gap between the developed and developing countries has been widened and that the level of Arab economic contributions under international financial and economic flows decreased.

The study stressed the need that the Arab states have to benefit from international experiences including the experience of the European Union in establishing the common Arab market which has become very important to serving the higher interests of the Arab nation.

The study indicated the obligations that will result from joining the World Trade Organization. A matter which has become a must within the next ten coming years.

The study reviewed the Arab losses resulting from joining the WTO and the benefits of the common Arab market, noting that joining the WTO will increase the food gap estimated at USD 10 billion to reach USD 12,5 billion by the year 2005.