(MENAFN- Kuwait News Agency (KUNA)) NEW YORK, Sept 24 (KUNA) - Kuwait said Saturday the Arab and African countries should step up economic cooperation as well as plan a new approach for the common future based on genuine partnership.
First Deputy Premier and Foreign Minister Sheikh Sabah Khaled Al-Hamad Al-Sabah, in a speech while co-chairing a Ministerial meeting of the Arab-African Partnership Coordination Committee, said the private sector should contribute actively in the promotion of Arab-African economic relations.
He reiterated Kuwait's belief in the strategic importance of Arab-African partnership and has been contributing to the development of the least developed countries for years.
He noted initiative of His Highness the Amir Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah, which he launched at the November 2012 Arab-African summit, to allocate USD one billion for development projects in Africa, another USD one billion for investment in African countries through international financial institutions, as well as a USD million prize after late Dr. Abdulrahman Al-Sumait for research in food, health and education in African.
Today's meeting is the last before the 4th Arab-African summit, due in Malabo, capital of Equatorial Guinea, on November 23.
Kuwait co-chaired the 3rd summit with Ethiopia over the past three years, during which "we worked hard for the success of the resolutions of the summit, along with constructive and positive cooperation by the League of Arab States and the Commission of the African Union," said Sheikh Sabah Al-Khaled.
The senior Kuwaiti official commended the Arab League and the African Union for supporting the partnership, wishing success for the Malabo summit, to be held under the theme "Together for a sustainable development and economic cooperation." (end) Mao.bs