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08:20 GMT
KUWAIT, Jan 19 (KUNA) -- Arab leaders urge Arab financial institutions to carry out more active role in increasing funding and investments in the Arab countries with special emphasis on integration projects.
In a draft resolution of the Arab Economic, Development and Social Summit, obtained by KUNA, the Arab leaders would vow continued support for the national financial institutions to contribute to stability of the global financial situation.
The Arab leaders called on governors of central banks to coordinate policies to get out of the financial crisis, said the draft resolution.
They said the Arab financial institutions should continue financing inter-Arab investment and helping the Arab countries to improve their investment climate.
The financial institutions should forecast conditions of the financial markets and economies to avoid any negative impacts.
The leaders, noted the draft resolution, emphasized importance of stability of oil prices for best interest of oil producers and consumers.
In another draft resolution, the Arab leaders called for adopting necessary measures to establish the custom union as of 2010 to be fully operational by 2015 to ultimately establish the Common Arab Market.
The leaders will assign the Economic and Social Council to adopt all necessary measures to establish the Arab custom union.
The draft resolution said the least developed Arab countries to present an annual report to the Arab League about the progress made in the implementation of the Millennium Development Goals (MDGs), and how the rest of Arab countries could help them with the compliance.
Meanwhile, the Arab leaders agree to hold the upcoming Economic summit in Egypt after two years. (end) Kt KUNA 191120 Jan 09NNNN