Preparatory meeting for Arab Eco Summit held in Cairo

(With photos) CAIRO, Aug 28 (KUNA) -- The preparatory meeting for the Arab Economic Summit, set to be hosted by Kuwait in January 2009, was presided here on Thursday by Kuwaiti Finance Minister Mustafa Al-Shimali.
The meeting was attended by Arab League Secretary General Amr Moussa, with the participation of delegations from six countries: Kuwait, Saudi Arabia, Syria, the UAE, Qatar and Egypt.
Speaking to KUNA following the meeting, Minister Al-Shimali said preparations for the summit were discussed, adding that participants agreed that the summit would set the basis for joint Arab economic and social action.
He added that discussions revolved around creating a new phase in inter-Arab relations, such that the Arab people would see the benefits and businessmen would find an attractive investment climate.
Moreover, he said the participating delegations called for placing an effective mechanism to allow for the participation of the private sector in the implementation of projects, noting the need for more projects that serve Arab integration.
The Kuwaiti minister said the delegations agreed to intensify meetings in the coming period, noting that the Arab world was facing real challenges such as poverty, unemployment, a deterioration in living standards, and a drop in inter-Arab trade levels.
Other challenges include small local investments, the migration of capital, weak infrastructure, and the need for stronger educational output, he said.
Al-Shimali said the summit would be focusing on seven main sectors: investment; developing the production and commercial sectors; establishing a customs union; service trade; infrastructure; reform; and such issues as health, education, poverty and unemployment. (end) mab.mfm.ez.ema KUNA 281244 Aug 08NNNN