Akher Saa: Gowelli: Economy gateway to reform in Arab world

Secretary General of the Arab Economic Unity Council Ahmed Gowelli Tuesday said that the economy is the right gateway to comprehensive reform and it introduces political and democratic reforms.

In an interview with Akher Saa weekly of Wednesday, Gowelli said that the economy develops and changes the lives of peoples and the Arab countries should adopt economic reform instead of rejecting all initiatives.

He voiced optimism over the region, saying that the Arab states have started economic reform including 11 nations members of the World Trade Organization and after five or six years all the Arab states will be members as well.

He referred to the fact that by the start of next year customs fees among members of the WTO will be "zero," asserting that a real Arab market should be created.

The Arab states have started recognizing problems such as unemployment, he said, pointing out that the figure reaches 20 percent of the work force and is increasing every year.

Over the coming 10 years, 30 million job opportunities should be provided in the Arab world, he added.

The Arab states have come to realize a huge food gap, as they import foodstuffs worth $ 15 billion annually, he said.

He pointed out that oil, which represents 70 percent of Arab exports, could easily face any crisis.

The growth rate in the Arab world has not exceeded three percent annually and the Arab economy is getting more marginalized, he added.

He asserted a dire need to raise growth rate from three to seven percent, pointing out that it is possible as these countries have investments abroad worth some one trillion dollars, while a program for raising the growth rate in the region needs not more than $ 700 million.