LOC18:10
15:10 GMT
KUWAIT, Jan 20 (KUNA) -- Kuwait Foreign Undersecretary Khaled Al-Jarallah said Tuesday the Arab Economic Summit would pave way for common Arab action at the economic front.
The Summit's results were warmly received by the Arab leaders and participants described them as "positive and constructive," Al-Jarallah told KUNA.
He voiced great relief for the outcome of the summit, which he said "were the result of the wisdom" of His Highness the Amir of Kuwait Sheikh Sabah Al-Ahmad Al-Sabah who placed the foundation of the inter-Arab economic action.
These results, added the diplomat, would be implemented in near future to improve living conditions of Arab peoples as well as improving education, health care and social services.
Al-Jarallah said the two-day summit adopted "important" resolutions including Sheikh Sabah's initiative to launch a USD-two-billion Arab mechanism to fund small and medium enterprises, to which Kuwait would contribute with USD 500 million.
He said he was looking forward for contributions of Arab countries to this initiative to activate the private sector's role to boosting development in the Arab countries.
Al-Jarallah hoped the summit would have been held in better circumstances, but added that lots of pain was brushed aside with the ceasefire in Gaza.
He said the situation in Gaza posed an additional challenge to the summit, which managed to approve a set of measures to tackle negative impacts of the global financial crisis.
Al-Jarallah said the summiteers approved an implementation mechanism to execute the resolutions.
Al-Jarallah, meanwhile, said Sheikh Sabah's wise vision succeeded in "breaking the ice between the Arab brothers and helped in turning the page of the past and to look at a future full of serious and constructive work." (end) kt KUNA 201810 Jan 09NNNN