AEUC to focus on inter-Arab trade mechanisms

The Arab Economic Unity Council (AEUC) is opening a meeting today on Arab trade development.

The two-day meeting, under the chairmanship of AEUC Secretary general Ahmed Goweili, will focus on mechanisms to develop inter-Arab trading and increase it by 20 percent by 2010.

An executive program has been drawn up to encourage joint Arab investment and standardise customs tariffs Goweili said.

The success of the program will depend on activating the roles of Arab unions, Arab chambers of commerce and industry, the private sector and Arab investment companies, Goweili added.

There must be an Arab Commercial Bank to finance inter-Arab trade, he said.