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Aspirations high for successful Arab economic summit -- UAE official

By Baraka Al-Jassar

(with photos) ABU DHABI, Jan 12 (KUNA) -- Aspirations are high for the Arab Economic Summit to issue recommendations that will allow Arab states to overcome repercussions of the global financial meltdown and regulate development projects to boost their economies, said Chairman of UAE Chamber of Commerce Salah Al-Shamsi on Monday.
Al-Shamsi, who is also Chairman of Abu Dhabi Chamber of Commerce, told KUNA that the summit, set to be held in Kuwait on January 19-20, came at a critical time given the economic crisis that was now burdening the world.
He said serious efforts were being exerted to form economic blocs in order to tackle the economic crisis and to overcome recession, thereby boosting confidence in market economy and activating it.
All predictions point to 2009 as being a difficult year for many economies, he noted.
Al-Shamsi underscored the importance of boosting joint Arab economic action and overcoming all differences in this area, noting the weakness in Arab economic integration could only be strengthened through joint investments.
As to important topics that would be discussed at the summit, he said that among them would be the establishment of the Arab customs union, the agreement for service trade, the investor's card that allows the movement of businessmen in and out of Arab states, economic integration, transportation, education, health, poverty, unemployment, food security, and climatic changes.
The chamber chairman called for removing all obstacles in order to create an efficient greater Arab free trade zone, such as removing all custom-related restrictions, unifying standards, and placing clear formulas for issues related to country of origin. (end) bmj.ema KUNA 120901 Jan 09NNNN