Goweili Common market to protect Arab interests against int'l blocs

Arab League Secretary General of the Arab Economic Unity Council (AEUC), Ahmad Goweili, said the Common Arab Market has become necessary to counter the challenges posed by international mega economic blocs.

The AEUC secretariat has embarked on serious measures to beef up Arab economic joint action through setting up an Arab investment promotion office.

The Arab investment map has been updated to include 5000 investment projects and were available online by March l, he added.

Goweili highlighted a study to take executive measures to commence liberalization of inter-Arab trade due on January l, 2005.

The Arab official drew attention to domestic and foreign challenges towards setting up of the free trade area including population explosion and unemployment.