UAE- Arab South American meet backs stronger ties:paper

11/14/2015 2:19:43 AM

(MENAFN- Emirates News Agency (WAM))

ABU DHABI 14th November 2015 (WAM) -- The Arab-South American summit that concluded recently has paved the way for stronger ties between the two regions commented a local daily.

"This avenue is a welcome step forward opening a new frontier of relations that will see a boost in political economic social and cultural relations" said the 'Gulf news' in its today's editorial.

The Arab-South American summit was first held in 2005. Trade figures between the two regions a decade ago stood at a mere $6 billion (Dh22 billion). In 2014 that figure jumped to $30 billion proving that ties have become stronger. However both regions can exploit trade further as opportunities abound. Both regions are very strong economically and blessed with natural resources. "They must tap into these to bolster business" the paper said.

Traditionally the Arab region has sought close relations with Asia Europe and North America according to the paper which further writes that now this path- seeking stronger political economic and cultural relations with South America- will help both regions become stronger. South America is rich in resources with vibrant societies and culture. "The Arab region has its own wealth - people and resources. It has a lot to offer in terms of investment. These regions are powerful players in the world arena. The relationship is symbiotic" the paper said in its concluding note.

WAM/Hazem/AAMIR

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