17 Arab countries in free trade agreement next January

The secretary-general of the Arab League, Dr. Esmat Abdel Meguid, said that the progress achieved by some of the Arab countries in forwarding economic reforms, strengthening the role of the private sector and increasing the industrial products will contribute to the success of the agreement of the Arab Free Trade Zone which is expected to be applied next January.

He said that he does not expect all the Arab countries to sign this agreement, due to the disparity between economic systems in the Arab world. Those countries that are going to sign the agreement are the ones that have achieved more progress in economic reform programs. The other countries are going to sign later, which will help develop the bilateral economic relations between the Arab countries.

Meguid also added that one of the results of the success of the private sector in the Arab countries is the booming of the Arab bourses and the freedom to move securities and shares among the Arab countries.