Businessmen blame governments for moving slow on Arab free trade

The Egyptian assembly for businessmen stated that the process of breaking down barriers to inter-Arab trade and establishing a free trade zone is still advancing slowly. It said the slow Arab progress does not conform with the rapid economic developments taking place in the world arena.

The assembly said in a report that there is negligence from Arab governments toward applying free trade agreement, exclusions, non-customs restrictions, and the obstacles of all means of transportation.

Meanwhile, Arab businessmen will meet in Luxor on Tuesday, during which the Arab League will present a detailed report about measures that were taken to forward the free trade project.

Taher El-Sherif, the secretary general of the businessmen's assembly, said there are four countries that did not ratify the agreement for facilitating and developing trade exchange: Mauritania, Algeria, the Comoros Islands and Djibouti, while there are 9 countries that have not yet completed executive measures to reduce customs rates by 10%.