Arab Economic Commission to discuss ways and means of economic integration

05-02-2019 0Media in \Cairo
The Economic Committee of the Arab Economic and Social Council (ECOSOC) has prepared a draft agenda for the 103rd session of the Council at the level of senior officials tomorrow and the ministerial level on Thursday under the chairmanship of the Sultanate of Oman.
The draft agenda included 11 economic items and 9 social items, the majority of which will be the economic and social file to be presented to the Arab Summit in Tunis at the end of next month.
Dr. Thamer Al-Ani, Director of Arab Economic Relations at the League of Arab States, said that a number of economic issues were discussed over two days with the participation of Arab Economic and Social Council representatives, And the requirements for the establishment of the unified Arab Customs Union, which is the focus of the 103rd Session of the Economic and Social Council.
Al-Ani added that the investment portfolio in the Arab countries is a high priority on the agenda of the Council, especially as investment is the mainstay of economic development in the Arab world, stressing that the Arab countries are preparing a new Arab investment agreement that takes into account all the economic developments in the world, “The digital and knowledge economy” to keep abreast of the major developments in the world of investment, pointing out that the new agreement takes into account the modern principles and objectives in investment and economic development as well as the goals of sustainable development adopted by the Arab countries.
He stressed that the Committee followed the implementation of the decisions of the Arab-African Summit at its fourth session held in Malabo, Equatorial Guinea in November 2016, especially with regard to economy and trade. He stressed that the African countries represent strategic depth for the Arab countries. The Committee also followed up the implementation of the Riyadh Declaration issued by the Fourth Arab Summit And South American countries held in Riyadh in November 2015, and pointed out the importance of Arab cooperation with South American countries within the framework of the mechanism of cooperation adopted since the first summit held in 2005 in Brazil.
The Committee also discussed the amendment of the Arab Council of Ministers’ Council’s regulations and the follow-up of the implementation of the Arab Sustainable Agricultural Development Strategy for the Decade 2005-2021, as well as the follow-up of the implementation of the Framework Plan for the Arab Emergency Food Security Program in its second phase, 2017-2021 “He said.