By Mash'hour Abu Eid
(with photos) AMMAN, Dec 27 (KUNA) -- Chairman of the Federation of Arab Businessmen (FAB) commended the Arab private sector's expected level of representation in the Arab Economic Summit, set to be held in Kuwait on January 19-20.
Hamdi Al-Tabaa was speaking to Kuwait News Agency (KUNA) following an invitation extended out to him by Arab League Secretary-General Amr Moussa.
"It is the first time for the private sector to partake in Arab summits at such a level," he said.
Since the summit initiative was made public, FAB has been gearing up for an effective and fruitful participation in the gathering in a bid to boost the private sector's role in Arab business decision-making, he said.
During recent preparatory meetings, FAB presented its visions pertinent to cooperation among Arab countries and ways and means of absorption of Arab money in Arab countries following the outbreak of the current global financial and economic meltdown, he added.
As part of preparations and arrangements for the Kuwait summit, FAB has recently held its annual meeting in Cairo on the negative reflections of the world economic downturn on Arab economies, Al-Tabaa noted.
He voiced hope that the Arab economic gathering in Kuwait would come up with earnest and effective resolutions and recommendations that could lead to fast-track economic reforms in Arab countries and to broader partnership between both Arab public and private sectors.
Asked what the private sector wants from the summit, he said FAB will urge more efforts to remove legislative, procedural and administrative barriers and obstacles blocking a planned major Arab free trade zone and free movement of businessmen, investors, commodities and services.
He also wished that the summit would produce resolutions aiming to rid the Palestinian economy of Israeli control, to open Arab markets to Palestinian products and to shore up Palestinian economic institutions.
He called for boosting Arab investments in those Arab countries which suffer high joblessness rates and low national incomes with a view to fighting poverty and unemployment there.
Foreign labor should be replaced with Arab workers, he urged, arguing that such a step, if put in place, would surely bring favorable economic and social reflections on the Arab world at large.
Given surging inflation and joblessness in the Arab world, Arab investments ought to be used in building a production base involving industry, especially manufacturing industries, and farming, the FAB chief stressed.
The Arab economic and social development summit in Kuwait is expected to focus on economic priorities in the sectors of transport, financing, food security, energy, education, scientific research, development of human capabilities, major Arab free trade zone, Arab customs union, health services and Arab joint funds. (end) ab.mt KUNA 271026 Dec 08NNNN