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16:11 GMT
By Talal Al-Kayed (with photos) DAMASCUS, Jan 17 (KUNA) -- The Arab Economic, Social and Development Summit, to kick off in Kuwait this Monday, gains further importance as it coincides with highly delicate regional and global developments, a prominent Syrian prominent economist said on Sunday.
The summit, conceived by His Highness the Amir Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah and approved by the 19th Arab summit in Riyadh, Saudi Arabia, in late March, 2007, "will give a strong impetus to the socio-economic development in the region," Dr. Mustafa Abdullah Al-Kafri, professor of economics at Damascus University told KUNA.
"The summit gains further importance as it coincides with the current global economic and financial turmoil and the grave consequences of the Israeli aggression on Gaza Strip," said, Al-Kafri who is also Chairman of the Syrian Investment Agency (SIA).
"It will lay the groundwork for effective economic integration among the Arab countries," he said, noting that the Arab economic integration made good process in the recent years.
The summit will be a "great stride" towards sustainable development which will improve the standards of living of the Arab citizens and realize the aspirations for keeping pace with the regional economic blocs, the Syrian economist predicts.
Kuwait made great efforts to prepare for the summit and ensure the fulfillment of its targets particularly those relating to the revival of the economies of the region, he added. (end) tk.gb KUNA 171911 Jan 09NNNN