Arab industrial development soars

A report by the Arab Organization for Industrial Development said the rate of industrial development in the Arab states has risen during recent years.

The report, published this week in Cairo on the occasion of convening the first conference of the Arab ministers of industry, said the highest rate for industrial development among the Arab states occurred in 1996 when the annual increase was 14.8% over the figures of the previous year.

The report added the industrial outcome contribution rate reached 32% concerning other industrial activities, whereas value of the local Arab production in 1996 was estimated at $183.7 billion US. The report also said the value of the Arab GNP concerning the industrial sector rose from US $132.5 billion in 1985 to US $192.6 billion in 1997.

The report explained that Foodstuffs industries constitute a special importance where the Arab states seek to achieve self-reliance.