Arab Economic Cooperation Integration Vital: Al Mansouri

ABU DHABI - Arab countries must take concrete and rapid action at this month's Arab League Summit towards economic cooperation and integration to face the global financial crisis, the UAE Minister of Economy Sultan bin Saeed Al Mansouri said.

By (Staff Report)

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Published: Sat 28 Mar 2009, 12:10 AM

Last updated: Thu 2 Apr 2015, 7:45 AM

The minister is today leading a delegation to Qatar today to participate in the preparatory meeting of the Arab Economic Council in advance of the summit in Doha on March 29-30.

"At this critical stage of the world economy, the Arab League meeting is critical," Mr. Al Mansouri said. "Now is the time for Arab countries to cooperate, to stand together to weather the challenges of the financial crisis."

"Arab economic integration can be achieved only by strengthening economic agreements and updating them in line with changing global and regional conditions," he added. In Qatar this week, the ministers of participating Arab nations will discuss avenues to improve cooperation to drive socio-economic growth and development. Agreement is expected on many tracks prior to the Summit.

The ministers will also discuss the UAE's recommendation to implement an 'open skies' policy to boost intra-regional trade and tourism and pave the way for additional economic cooperation. The meeting will also consider Arab intra-regional investments and strategies to improve the region's investment climate.


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