Lahoud: Lebanon restores its financial regional position; untited Arab stock market

Lebanese President Emil Lahoud has stressed that Lebanon started to restore back its financial position in the Middle East region, and that choosing Beirut as a headquarters for the Arab Bourse Federation is an additional evidence on the Arab and international confidence entrusted in Lebanon.

During his meeting yesterday at Baabda palace with the chairman and members of the Arab Bourse Federation and in the presence of the Lebanese minister of finance Fouad al-Sanyoura, the Lebanese President said that inter- Arab solidarity in the economic field is of no less importance than the solidarity maintained at the political, security and social fields.

He explained that the Arab summit conference which was held in Beirut in March 2002 gave a considerable focus to the economic side, adding that the next Arab summit conference which will be held in Bahrain will give financial and economic topics due weight, considering that the foundation of the Common Arab Market should be the target of the Arab move in the coming phase. He indicated such an Arab common market should be preceded by a common Arab stock market with the Arab Bourse federation constituting the basic infrastructure for it.