Qatar Ratifies Unified Agreement For Investment of Arab Capital in Arab States

Doha, April 27 (QNA) - The State of Qatar on Wednesday ratified the Unified Agreement for the Investment of Arab Capital in the Arab States, which entered into force on 24/04/2016, after three months from the date of deposit of the instruments of ratification by five States parties to the original Convention. The agreement aims to enhance the overall Arab economic and social development and economic integration, as well as to facilitate procedures relating to investment in the Arab countries, and means of facilitating capital's movement, deployment and protection within the Arab countries. It is also aimed at easing Arab investors' movement among the Arab countries in order to serve sustainable development, raise the standard of living of its citizens and support investors. HE the Minister of Economy and Commerce Sheikh Ahmed bin Jassim bin Mohammed Al-Thani stressed importance of the Unified Agreement for the Investment of Arab Capital in the Arab States as one of the important gains in the march of joint Arab economic action. He called in this context to activate and enhance the joint Arab economic action as well as overcome all the difficulties facing trade and inter-investment, pointing to the importance of achieving development and economic development in the Arab countries. The State of Qatar attaches a great interest to the development of joint Arab action as one of the most important channels and means to meet the challenges facing the Arab world, he said, stressing the need for unity and cohesion in the areas of joint action which will contribute to upgrading the Arab Economic and Social action's system. (QNA)