Recommendations of Arab Economic Complementarity Congress will be handed over to Arab League | Tunisia News Gazette

Recommendations of Arab Economic Complementarity Congress will be handed over to Arab League

A report gathering all the recommendations from Arab Economic Complementarity Congress, held from 28 February to 1 March 2018, on the theme “Arab economic complementarity: achievements and prospects”, will be given to the League of Arab States, said Darim Al Bassem, senior adviser to the United Nations Development Program (UNDP).

Speaking to TAP, Al Bassem said that the Arab financing funds play a very important role in the success of joint Arab projects, one of the main conclusions drawn from this congress. “Hundreds of joint Arab projects have failed because they lacked funding from these funds,” he pointed out.

He added that the Arab leaders should give importance to both the microeconomic level (projects and conventions) and the macroeconomic level, by developing a vision for the future over 20 years, which would list the different Arab projects to be carried out together.

Al Bassem said participants in this congress also proposed to include services, in addition to goods, in inter-Arab trade, especially since this sector (services) was absent in Arab agreements.

For his part, the Arab League Assistant Secretary-General for Economic Affairs Kamel Hassan Ali emphasised the imperative for the Arab countries to work together to ensure the reconstruction of some countries that have suffered damage from wars.

He said the Arab League will take into account the recommendations that will emerge to present them at the Arab summit.

For his part, economic adviser to the Prime Minister, Ridha Saidi stressed the importance of the Arab commitment to move towards economic complementarity, based on the role of the Arab funds that play a big role in the recovery of growth, recalling, in this regard, that Tunisia has benefited from this kind of financing in certain projects, such as those related to energy.

“Nevertheless, Arab funding to Arab countries remains low compared to those directed to other countries outside the Arab world,” he lamented, calling for balancing and directing these investments to the Arab countries to ensure their prosperity, especially since these countries need infrastructure projects, a developed education, food and energy security.

“For this purpose, we must also set real goals, implement the previous agreements signed between the Arab countries and develop scientific and objective studies”.

Saidi emphasised the role of governments in implementing these recommendations, especially since the inter-Arab projects open up promising prospects, in terms of profit and development of inter-Arab trade.

The congress was organised by the Arab League Center in Tunis and the Arab Planning Institute- Kuwait.

Source: TAP News Agency

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