Arab leaders to transfer free trade zone into customs union - Moussa

(With photos) CAIRO, Dec 22 (KUNA) -- Arab League secretary general Amr Moussa said Monday Arab leaders would be discussing in Kuwait's economic summit transferring the Arab Free Trade Area into a Customs Union.
This transfer will take place between 2015 ad 2020 and will be followed with the creation of the Common Arab Market, Moussa said in press remarks on sidelines of Cairo 3rd Invesment Forum.
He said a forum would be held on the fringe of the January 19-20 Kuwait summit aimed at finding a common ground for the participation of the private sector and civil society organizations.
There are 250 projects to be proposed for the private sector during the summit, he said, particularely the Railroad network between Arab countries, food crisis and agriculture policies.
Moussa said Arab leaders would consider restructuring Arab monetary institutions in line with standards of international monetary organizations. He cited the UAE-based Arab Monetary Fund (AMF) and Kuwait-based Arab Fund for social and economic development.
The Arab League chief called for directing Arab investments to a genuine development in addition to the development of the Arab economic regime. (end) nor.bs KUNA 221847 Dec 08NNNN