Bahrain attends Arab League meeting

Amman, Mar. 26(BNA): The Minister of Finance, Shaikh Ahmed bin Mohammed Al Khalifa, led the Bahrain delegation to the meeting of the Economic and Social Council of the Arab League, held in preparation for the 28th Arab Summit to be hosted by Jordan this week. In his keynote address, the Jordanian Minister of Industry, Trade and Supply, Yarub Qudah, highlighted the importance of further developing joint economic and financial Arab work, and taking advantage of existing potential for Arab economies. The Arab League Secretary General, Ahmed Abul Gheit, called in his speech for all the requirements of the Greater Arab Free Trade Area (GAFTA) and the Arab Customs Union to be met, in order to reach Arab economic integration in line with the global economy. He also urged the creation of a new Arab economic formula that uplifts the current economic situation, while paying attention to knowledge-based economy, quality of education and linking it to labour market needs. Among the topics discussed during the meeting were a report prepared by the Arab League Secretary General on the economic, social and developmental aspects of the Arab work, a follow-up report on the implementation of the resolutions of the previous summit, and a briefing on the activities of a number of Arab specialised organisations. Also reviewed were the achievements already reached and elements required with regard to GAFTA and the Arab Customs Union, as well as the current situation of trade and investment in Arab countries and means of enhancing the private sector and Arab products’ market access. The meeting also tackled financial sustainability and means of making significant progress in economic diversification and revenue development policies in Arab countries, along with enhancing governance, transparency and good management as major components in the implementation of economic reform programmes.