Arab trade official praises Mubarak's call for Arab common market

The chief of the Arab Federation of Chambers of Commerce, Industry and Agriculture Khaled Abu Ismail said on Wednesday a meeting would be held in Bahrain in May to tackle Egyptian President Hosni Mubarak's call for an Arab common market.

In statements to MENA, Ismail said the federation had sought to attract foreign investment and added that inter-Arab trade had been on the decline. About dlrs 800 billion are invested abroad and should be channelled into an Arab Free-Trade Zone. He said that inter-Arab trade stands at a meager of 8-9 percent of the total Arab trade.