Arab foreign debts exceeds $ 160 billion

According to an Arab economic report, the volume of foreign debts owed to be paid by the Arab states increased to USD 160 billion, while other USD 12 billion should be paid annually as interest rate for this debt. A situation which expose Arab economics especially in non- oil states to several risks, especially their ability to achieve developmental objectives.

According to the report which was released by the Arab economic unity council, the extra sums to be paid for Arab debts are estimated at 17% of the total outcome of commodity and service exports while general debts represent 59% of the total GNP of all Arab estates estimated at USD621 billion.

The report indicated that the share of all Arab states of the total volume of direct foreign investment import flows reached USD7.8 billion estimated at 1% of total world investment flows and 2.4% of total flows developing states have recieved.

The report warned against the Arab states continued working according to the principle of multi regional and international trade agreements under the absence of united Arab strategies, considering that such a condition constitutes more complexities before the implementation of the Greater Arab Free trade area. A conditions which had earlier relatively obstructed other regional agreements, especially the Euro-Mediterranean Association Agreement project.