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Abu Dhabi meeting to discuss dwindling intra-Arab trade
ABU DHABI - The first high-level tripartite meeting of Arab economic ministers, CEOs, economic organisations and think-tanks would take place in Abu Dhabi next month to discuss the dwindling intra-Arab trade, issues of economic competitiveness and taking steps to face the liberalised WTO regime, besides sorting out issues on developing Arab Free Trade Area (AFTA).
The Arab economies are passing through difficult times, with increasing reliance on import of goods and services. The situation worsened during the year 2003, with Arab world exporting goods worth $298 billion dominated by oil and gas and imports totalling $192 billion.
The conference will discuss obstacles discouraging intra-Arab trade with the private sector besides discussing the macro trade and negotiations by Arab countries with WTO.
The two-day Arab Trade Conference and Exhibition would be held from 28th November, with the cooperation of Arab League, the Arab Trade Financing Programme and the Islamic Corporation for Guarantees for Investment and Export Credits.
In this connection, a briefing was held yesterday in the capital in which Mohammed Omar Abdullah, director-general of Abu Dhabi Chamber of Commerce and Industry, Abdullah Ahmed Al Saleh, Assistant Under-Secretary for Economic Affairs at the Ministry of Economy and Commerce, Sharif Abdul Khaleq, Director for Trade Enhancement and Development at Arab Trade Financing Programme; Faisal Abu Zaki from Al Iqtissad Wal-Aamal Group highlighted the significance of the conference.
Mohammed Omar Abdullah, speaking on the occasion, said that Arab economic ministers, senior officials, economists, leaders of private sector, as well as economic think-tanks will participate in the first ever high level meeting to discuss such issues in their bid to evaluate Arab world's position and form a joint policy to tackle the irritants before the introduction of WTO rules.
He said that key issues which will come up for discussion include development of trade, progress on the Greater Arab Free Trade Area, the programmes adopted by Arab countries to improve the quality of production to reach international standards and means of developing inter-Arab trade.
Abdullah Al Saleh, Assistant Under-secretary for Economic Affairs & International Co-operation at the Ministry of Economy and Commerce, said that specialised workshops dealing with exports; e-commerce; standardisation and metrology; financing techniques; transportation through land and shipping besides Insurance will be organised.
He said that on the first day conference will deliberate on topics like Intra-Arab Trade: potentials and challenges; the Arabs and the WTO; Arab trade with Europe; partnership with the United States; and a review of Arab experience in this regard would come up for discussion.
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