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09:16 GMT
CAIRO, Oct 21 (KUNA) -- The Arab Economic Social and Development Summit, to be held in Kuwait in January, 2009, will be pivotal to the Arab joint action in economic, commercial and investment domains, an Egyptian daily said on Tuesday.
The summit, jointly conceived by Egypt and Kuwait, will take place amidst the global financial meltdown which affected almost all parts of the world, Al-Akhbar said in its editorial.
The Arab countries need to make more concerted efforts to tackle the impacts of the international financial crisis on their economies and ensure the smooth implementation of their development plans.
The coming summit of Kuwait is expected to explore ways to enhance the bilateral trade between, and joint investments by, the Arab countries.
It will seek ways to promote economic growth rates of the Arab countries and encourage the Arab businesspeople and investors to venture into large-scale development projects, the editorial expects.
Egypt has taken "important steps" to attract more Arab investments in order to shore up its economy and minimize the impacts of the world financial crisis on the economy, it added. (end) ag.gb KUNA 211216 Oct 08NNNN