$700 million to finance mutual Arab trade

The Arab trade program for financing affiliated to the Arab Economic Unity Council decided to present $700 million to finance Arab mutual trade agreements through 96 national agencies in all Arab states.

Gassem El-Maneay, the head of the program, told ArabicNews.com that this amount will be specified for financing the operations prior to shipment to external markets on the condition that the manufactured goods are specified for export.

El-Manaey stated that the program will finance the projects without guarantees if the financial center of the national agency is good and that the program will help importers and exporters become informed about joint opportunities.