KUWAIT, Jan 20 (KUNA) -- Egypt will host the next Arab Economic Summit in two years, said Egyptian Prime Minister Dr. Ahmad Nazif, on behalf of the Egyptian leader.
Speaking at the closing session of the first Arab Economic Summit, Nazif called Arab leaders to set development priorities, proposing the inclusion of five issues among the priorities.
These issues are: liberating the movement of capital among the states and the contribution of the private sector and civil societies; developing production in the Arab world by establishing regional companies; developing trade among Arab countries; preparing a plan to develop human resources through focusing on education, health, culture, and providing job opportunities; and giving importance to social issues.
Nazif said that trade among Arab countries did not exceed USD 126 billion in 2007, which is very low to trade among other blocs like the Association of South-East Asian Nations (ASEAN).
He said that trade among Arab countries was also low, ranging between 37 and 46 percent, while tourism among European countries equals 88 percent.
He stressed that Arab countries had the abilities to achieve integration, emphasizing the significance of uniting efforts and visions to overcome the effects of the world economic crisis with the least possible losses and fastest time.
He thanked His Highness the Amir of Kuwait Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah for his initiative on launching a fund to finance development projects and expressed his gratitude for His Highness and the people of Kuwait for hosting the summit. (end) kt KUNA 201451 Jan 09NNNN