LOC15:53
12:53 GMT
RIYADH, Jan 17 (KUNA) -- Saudi Press Agency (SPA) has highlighted on Sunday the significance of the Arab Economic, Social and Development Summit, to be held in Kuwait on January 19-20.
The summit gains further importance as it coincides with the current global financial turmoil and the grave consequences of the Israeli aggression on Gaza Strip on the Middle East, the state-run news service reported.
The summit is a serious attempt to bridge the gap in food self-sufficiency and revive the economies of the region.
In the first session of the summit the Arab leaders will focus on how to tackle the serious situation in Gaza Strip ensuing from the Israeli aggression, the report said, noting that the phrase "Solidarity with Gaza" has been added to the theme of the summit.
It is expected to make crucial decisions on the free movement of capital, commodities, services and labor among the Arab countries in order to lay the groundwork for an effective economic integration.
It will outline a political clear-cut framework for economic integration and create an investment-friendly environment, according to the report.
The Arab decision-makers are unanimous on five vital projects namely; the power grid hooks-up, the linkage of road systems, food security, water security and the common market.
The projects, to be approved by the summit, are part of an Arab strategy to achieve a balanced comprehensive socio-economic development and improve the standards of living of the Arab citizens, it added. (end) ay.gb.
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