The Arab economic unity council

The Arab economic unity council held a meting under the chairmanship of Ahmad Jweili. It was attended by the representatives of the council's permanent states.

Jweili said he had discussed the pillars of commerce, investment and technological development in the Arab states and discussed the council's efforts to prepare detailed studies to programs stated in this field.

The participants in the meeting approved measures to assign a work team to draw the executive program for the united Arab economic work and setting its set proposed programs which include the program of the Arab customs federation and the Arab developmental programs.

The strategy was divided into three successive phases. The duration of both the first and the third are of five years and the second is of a 10 year duration.

The agreement also stated o invite customs experts in he Arab states to daw the general framework of the customs federation and to modernize its united law. He meeting stressed the need to draw a program for inter-Arab development programs and to incrase its level from 8.5% to 20% during the first five coming years.