By Clovis Choueifaty
BEIRUT, Jan 18 (KUNA) -- Arab Development, Economic and Social Summit holds its fourth edition on Saturday and Sunday in Beirut, discussing issues concerning all Arab countries namely integration in diverse fields.
The summit will focus on three main topics, the inter-mutual Arab market for electricity, land, aerial and maritime transportation as well as food security.
Its business agenda includes 24 items, starting with a report by the Secretariat of the Arab League on Joint Arab economic, social and development works and a report on following up on last summit's decisions that, held in Riyadh in 2013.
Significance of holding this summit in Beirut was a point of consensus among officials and Lebanese economic experts who thought it would reinforce Lebanon's place and its economy in the region, especially after dangerous phase the country went through.
Member of the parliamentary national economic, commerce and industry committee Elias Hankach told KUNA that holding the summit in Beirut would revive Lebanon's role among Arab nations, encourage return of foreign investments, restore faith in Lebanon's place among Arab countries in organizing such a major event and ensuring all security and logistic procedures.
"The summit is held in a delicate time where talks are spreading about rebuilding Syria, amid expectations Lebanon would have a major role at this level .. it would reflect directly on Lebanese traders, entrepreneurs and industrialists who are looking for markets to launch businesses," Hankach continued.
On his part, economic expert professor Jassem Ajaka said to KUNA that the summit is a meeting among Arab leaders to distribute necessary resources for economic and social growth, and for Lebanon hosting such an event affirms its status regionally after the political and security events it has faced in the last five decades that have weakened its economy.
Ajaka said Arab investments in Lebanon between 2006 and 2011 displayed opportunities provided by Lebanon, as an important international financial center, with a banking sector that could be equivalent to counterparts in the west.
Ajaka also stressed on the importance of shedding the light on the economic feasibility of the CEDRE conference for international donors and investors to support Lebanon's economy that took place in Paris, France in 2018. It was attended by 40 countries that pledged to donate USD 11 billion, a huge sum quite lucrative for aspiring entrepreneurs. (end) kbs.bb