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IEA forecasts steady crude demand as prices firm      Seoul eyes regular high-level talks with N. Korea      Israel apologizes over embassy incident in Amman
  The arab economic summit
Egyptian FM praises outcomes of Kuwait''s eco summit
15/02/2009 | LOC17:02
14:02 GMT
| Arab News
تصغير الخطالشكل الأساسيتكبير الخط
CAIRO, Feb 15 (KUNA) -- Egyptian Foreign Minister Ahmed Abul Gheit asserted on Sunday that the Arab Economic Summit hosted in Kuwait January 19-20, resulted in important resolutions that would boost the Arab economy under the current global financial crisis.
He added in a statement to the Asia-Middle East Dialogue (AMED) meeting, made on his behalf by his assistant, Ambassador Rauf Saad, that the Kuwait summit discussed the current global financial crisis and its effects on the Arab world.
He said the summit came out with important resolutions that called for implementing monetary and financial policies that would boost the Arab countries' capabilities to face the crisis, and reinforce the role of Arab financial institutes to increase investments.
Abul Gheit added that the indirect effects of the economic crisis are witnessed in the declining economic growth, and decreasing income from several important sectors, like tourism and transport.
He hoped that this meeting would jump-start new economic and trade relations, in addition to opening the door for new cooperation and coordination among countries.
Meanwhile, Egyptian Minister of Investment, Dr. Mahmoud Muhyideen asserted that the AMED meeting holds great importance, as it includes 50 countries that represent 60 percent of the world population.
He clarified that the financial crisis became a complete economic crisis, with expectations that it will continue for a long time, and therefore will have a negative impact on world development, in addition to increasing the percentage of poverty.
The AMED meeting was called for by the Egyptian foreign minister, with the aim of finding ways for cooperation among participating countries, to curb the negative outcomes of the global financial crisis. (end) rg.asa KUNA 151702 Feb 09NNNN
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