LOC11:51
08:51 GMT
KUWAIT, Jan 14 (KUNA) -- Arab economists stressed Wednesday the importance of the Arab Economic Summit to be held here on January 19-20.
Speaking to Kuwait Television from Riyadh, Abu Dhabi, Beirut, and Cairo, the experts said it was significant to propose new initiatives to develop the Arab economy.
In Riyadh, member of the economic and energy affairs committee at the Shura Council Dr. Abdullah Dahlan said he expects the summit would have a great effect on both economy and politics, while another member of the committee, Osama Kurdi, said that the initiative of holding an Arab economic summit is the first of its kind since the establishment of the Arab League in the 1940s.
Advisor and member of the Saudi Economy Society Talaat Hafiz said that the summit will begin a new era of trade among Arab countries.
In Egypt, former Prime Minister Dr. Abdulaziz Hajazi said that what is significant about the upcoming summit is that it will focus on both social and economic issues.
In Beirut, former Lebanese Finance Minister Dr. Dimianos Kattar stressed that the success of the summit in reforming the Arab economy requires amending investment laws and regulations of financing investment funds.
Meanwhile, head of Abdu Dhabi trade authority Mohammad Omar said the summit should set factors for economic partnership and for building an attractive environment for investments. (end) ris KUNA 141151 Jan 09NNNN