Concern over deteriorating economic conditions in occupied lands

Arab ministers of economy and finance have expressed deep concern over the deteriorating living conditions in the occupied Arab territories, foremost the West Bank and Gaza Strip, and over the increase in unemployment figures and poverty.

At the conclusion of the meeting of the 62nd session of the social and economic council of the Arab League on Wednesday, the ministers attending the meeting called for providing the necessary aid to the Palestinian people in order to enable them to take part in establishing the Arab free trade zone and restore economic ties with Arab states, breaking the Israeli restrictions imposed on Palestinian foreign trade.

The council heard a report submitted by the Arab League on the economic developments in the Palestinian lands, and to an explanation made by the head of the Palestinian delegation on the grave deterioration of economic conditions because of Israel's aggressive policy of confiscating lands, destroying houses, building settlements and imposing restrictions on movement of people and goods alike.

On the Arab free trade zone issue, the council called for adopting the necessary measures to implement the executive program providing for establishing the Arab free trade zone.

The Arab League council also reiterated the importance of establishing an Arab network for investment information and for making use of the world networks in the area of investment.

Map reported that the Ministers urged Algeria, Djibouti and the Comoros Islands to sign the agreement facilitating commercial exchange to be eligible for membership in the Arab free trade zone, and welcomed Mauritania as a new member in the agreement.