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 ecomy 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
 Sep 25 2016 - An output freeze deal in Algeria means $60 oil!Khaleej Times
(MENAFN - Khaleej Times) The oil market has been a rollercoaster in 2016. A global financial panic triggered by China's yuan depreciation caused Brent crude to fall below $30 a barrel in late ...

 Sep 25 2016 - Output freeze eludes Russia, Saudi Arabia talksKhaleej Times
(MENAFN - Khaleej Times) The world's two biggest oil producers Saudi Arabia and Russia said on Monday they had agreed to "act together" to try to stabilise oil prices, but failed to make headway on ...

 Sep 25 2016 - Value, risk in large cap biotech sharesKhaleej Times
(MENAFN - Khaleej Times) Merger mania has led to fairy tale outcomes on some biotech shares on Wall Street. For instance, oncology biotech Medivation (MDVN) tripled in value in 2016 once Pfizer won ...

 Sep 25 2016 - US equities and a spasm of risk aversionKhaleej Times
(MENAFN - Khaleej Times) I had written a column two weeks ago outlining my view that US equities faced a dangerous autumn and the S & P 500 index was set for a fall of 150 points. However, even I ...

 Sep 25 2016 - Value investing themes in Asian equity marketsKhaleej Times
(MENAFN - Khaleej Times) When Ben Bernanke uttered the word "taper" in May 2013, he triggered a bloodbath in emerging markets and a free fall in "fragile five" currencies that included the Indian ...

 Sep 25 2016 - Wells Fargo mired in one of the most sordid scandalsKhaleej Times
(MENAFN - Khaleej Times) Wells Fargo was, until last week, America's most valued money centre bank, the crown jewel of Warren Buffet's investment portfolio, a model of corporate excellence whose ...

 Sep 25 2016 - Fear, risk and value in emerging market currenciesKhaleej Times
(MENAFN - Khaleej Times) The $5 trillion global foreign exchange market is hyper-sensitive to shifts in the ultra-easy money policies of the G-7 central banks. So it is no coincidence that the ...

 Sep 25 2016 - UAE equities to perform better in next 12 monthsKhaleej Times
(MENAFN - Khaleej Times) A bullish real estate outlook, an impending tourism boom driven by new branded theme parks and a widely anticipated pick-up in business activity are critical triggers for ...

 Sep 25 2016 - Mohammed bin Zayed reassured regarding Haj pilgrims from UAEKhaleej Times
(MENAFN - Khaleej Times) His Highness Shaikh Mohammed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, in a telephone call to Dr. Mohammed Matar ...

 Sep 25 2016 - UAE voices concerns on 'Justice Against Sponsors of Terrorism Act'Khaleej Times
(MENAFN - Khaleej Times) Shaikh Abdullah bin Zayed Al Nahyan, Minister of Foreign Affairs and International Cooperation,has expressed the UAE's concern about the US Congress adopting the law ...

more...


 





Google

Easy Forex
 
 

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