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10:12 GMT
KUWAIT, Jan 17 (KUNA) -- Chairman of the General Union of Chambers of Commerce, Industry, and Agriculture for Arab Countries (GUCCIAAC) Adnan Al-Qassar said here Saturday that the Arab Economic Summit was a serious step to boost efforts to establish an Arab economic bloc.
In a speech at the inauguration of the "Private Sector and Civil Society Forum," held on the sidelines of the Arab Economic Summit, Al-Qassar said that the private sector was mature and could play an effective role in society and take responsibility of development along with the public sector.
The public sector was now aware of the importance of the private sector and its role in the social and economic life, he pointed out.
Al-Qassar said achieving the economic goals of Arab countries required a thorough Arab vision that put in mind the collective needs of those countries, expressing hope that the summit would take serious decisions toward an Arab free trade area, the establishment of a customs union by 2015, and founding a joint Arab market by 2020 to expand the Arab market and find investment opportunities.
He emphasized the importance of dealing with obstacles facing transportation sector, setting policies for combating unemployment, encouraging investment, supporting industries and projects, and achieving Arab food security.
He also underscored the significance of unifying tax and economic systems, improving the environment for joint Arab projects, studying the possibility of establishing a fund to compensate countries that would be harmed by integration, and developing infrastructure to activate trade and investment among Arab countries especially in the fields of transportation, communication, roads, railways, bridges, tunnels, ports, energy, electricity, gas, and agricultural projects.
In addition, Arab countries should approve a joint policy to keep track of concepts related to economy, technology, and knowledge. (pickup previous) kt KUNA 171312 Jan 09NNNN