Quotes: MENA   Enter Symbol: NewsLetter: Search: advanced

Hopes Arab Summit Will Boost Economy  Join our daily free Newsletter

MENAFN - Arab Times - 22/03/2014
No. of Ratings : 0
Add to Mixx!



(MENAFN - Arab Times) The Arab world of economy is keenly hoping the upcoming 25th Arab summit due here on March 25-26 would come out with tangible outcomes as the Arab region has been going through harsh conditions. The Arab states were among the first countries which sought to achieve economic integration since the establishment of the Arab League in 1945



The last three decades had seen emergence of a number of regional groupings in Europe and Asia, the Americas and Africa. The largest and most prominent models of economic integration in the world is witnessed by the continent of Europe through the unification of economic policies among several countries, in addition to the partial or complete abolition of customs restrictions and non-tariff barriers to trade



Economic integration among Arab countries remains in the process of developing agreements, and it is not a secret that the Arab economic integration faced many political difficulties with the outbreak of the "Arab Spring" in spite of expectations predicting that such Arab shifts could contribute to the creation of an economic integration doomed to success. The outbreak of the Arab revolutions was associated with deteriorating economic conditions in the countries of the Arab Spring to the extent where the economic growth rate in Egypt reached 1.21 percent in 2011 compared to 5. 14 percent in 2010



Decline

The growth rate in Tunisia froze at 0.7 percent, while the Syrian economy shrank pushing the growth rate to slip to 2.02 percent, whereas the growth rate of the Yemeni economy dipped to 2.42 percent and the decline in rates is still ongoing. The aim of the Arab economic summits was to promote the economy of the Arab world through projects of operation, education, health and activation of economic integration to complete a free trade zone up to the stage of the Customs Union in 2015. Dr Faisal Al-Munawer, Professor of Political Economy at the Public Authority for Applied Education and Training told Kuwait News Agency (KUNA) that he hopes the upcoming summit would lay the foundations for the implementation of the Arab economic integration. He added that the economic integration should be seen as a necessity strategy for Arab countries to achieve stability and sustainable development with its various dimensions



He pointed out that the political dimension is always overshadowed by the economic dimension in the Arab summits, in addition to a lack of strategic vision, unlike the experience of the European countries, saying that the experience of the European economic integration started from the existence of a longterm strategic vision. For his part, Dr Ahmed Mohammed Nadi, Professor of political science and economic development at the Institute of Asian Studies and Research at the University of Cairo told Kuwait News Agency (KUNA) that the concept of economic integration must be defined right. Nadi added that economic integration means the process of mutual adopting between the economics of a group of countries fall within the framework of a geographical, political or social framework of varying degrees and on specific basis


 


Arab Times




  MENA News Headlines
 Jun 2 2015 - Qatar - HE Minister of Justice Leaves for ThailandQatar News Agency
(MENAFN - QNA) HE Minister of Justice Dr. Hassan bin Lahdan Saqr Al Muhannadi and his accompanying delegation left Doha for Thailand to participate in the two-day Conference of the Asian Society of ...

 Jun 2 2015 - Serbian Minister Meets Qatari AmbassadorQatar News Agency
(MENAFN - QNA) Serbia's Minister of Public Administration and Local Self-Government Kori Udovicki has met with HE Qatar's Ambassador in Belgrade Sheikh Mubarak bin Fahad Al-Thani. Discussions ...

 Jun 2 2015 - Saudi GDP to grow 3.5 percent in 2015MENAFN
(MENAFN) Saudi Arabia's Gross Domestic Product (GDP) is set to record 3.5 percent growth this year, remaining unmoved from 2014, according to the International Monetary Fund, Reuters reported.As the ...

 Jun 2 2015 - UAE spends USD14.3b over Etihad AirwaysMENAFN
(MENAFN) The government of the United Arab Emirates has spent over USD14.3 billion in Etihad Airways, USD9.1 billion was granted through equity financing and USD5.2b through loans, Arabian Business ...

 Jun 2 2015 - Famous international brands to capitalise their investments in EgyptDaily News Egypt
(MENAFN - Daily News Egypt) Ten years ago, no one would have imagined buying high-end products right from the heart of Cairo. However, nowadays, average local malls display impressive line of ...

 Jun 2 2015 - Egypt- Online platform to connect NGOs with private sector profitsDaily News Egypt
(MENAFN - Daily News Egypt) In the words of 23-year-old Khaled Yousry regarding his project: "I just want to make this country a better place for people to live in."Talking about the main reason he ...

 Jun 2 2015 - German auto companies, ECA conflict ongoingDaily News Egypt
(MENAFN - Daily News Egypt) The legal conflict between German automotive companies and the Egyptian Customs Authority (ECA) after the application of indicative prices on cars at the beginning of the ...

 Jun 2 2015 - Youth car to be launched for EGP 20,000Daily News Egypt
(MENAFN - Daily News Egypt) The government launched a new plan to manufacture a new three-wheeled car in the next few months, costing be between EGP 20,000 and EGP30,000.Further, the necessary ...

 Jun 2 2015 - Egypt- 3% reduction in car sales during first 4 months of 2015Daily News Egypt
(MENAFN - Daily News Egypt) Car sales recorded their first monthly decline in over a year, with sales last April decreasing to record 21,700 cars, compared to 22,400 in April 2014, a reduction of ...

 Jun 2 2015 - REACAP sells 13,452 sqm land for EGP 332mDaily News Egypt
(MENAFN - Daily News Egypt) REACAP Financial Investments has sold a 13,452 sqm piece of land, which it owned in partnership with Palm Hills, for EGP 332m. The land was bought through Nile Palm ...

more...


 






Google

Arab Advisors_12th convergence conf

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country

Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Economic Calendar
Financial Glossary


Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2014 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help