Leaders of Arab countries leave the Conference Palace after the conclusion of the two-day 3rd Arab Economic and Social Development Summit in Riyadh, Tuesday. The 4th such summit will take place in Tunisia in 2015. — SPA Saudi Gazette report
RIYADH – Leaders of Arab countries have agreed to encourage inter-Arab investment, adopt the strategy to develop renewable energy applications and diversify energy sources, implement the Millennium Development Goals, improve the level of health services and disease control and ensure food and water security for the region. These were mentioned in a communique dubbed the Riyadh Declaration issued at the conclusion of the two-day Arab Economic and Social Development Summit here Tuesday. Reading out the communique, Arab League Secretary-General Dr. Nabil Al-Arabi said that the leaders stressed the importance of joint Arab initiatives to serve Arab citizens, raise the standards of their living and provide them with full health care. In this context the leaders called for the convening of a forum for Arab youth in the Kingdom to discuss the priorities of the youth and find out mechanisms to create employment opportunities for them and provide opportunities of decent work. They also stressed their determination to continue efforts to issue regulations and legislation so as to provide opportunities to women for social, economic and political participation. The leaders welcomed the initiative of Custodian of the Two Holy Mosques King Abdullah for increasing the capital of common Arab financial institutions by at least 50 percent to meet the growing development needs. The Riyadh summit adopted a unified agreement to invest capital in Arab countries (as amended) to conform with developments in the Arab, regional and international arenas, and provide the proper climate to increase the flow of inter-Arab investments. The Arab leaders also confirmed their commitment to create an investment climate in their countries and enact national laws and legislation to help attract more investments. The summit also adopted the Arab strategy for the development of renewable energy applications (2010-2030) to meet the growing demand for energy, diversify its sources, meet the needs of sustainable development, open the way for the establishment of an Arab market for renewable energy, and work to provide new job opportunities with the active participation of the private sector. The leaders reiterated their commitment to achieve the Millennium Development Goals and support the efforts of least developed Arab countries to achieve those goals. They adopted the recommendations of the Arab Conference on Implementation of the Millennium Development Goals to crystallize an Arab vision that contributes to the development of the global vision of sustainable development objectives after 2015. They also pledged to improve the level of health care, paying more attention to the issue of noncommunicable diseases. The Riyadh Declaration expressed full support for the process of Arab economic integration by increasing the volume of inter-Arab trade and the formation of an Arab solid economic grouping. The leaders affirmed their determination to complete the requirements for Greater Arab Free Trade before the end of 2013 and work to complete the rest of the requirements for the launch of the Arab Customs Union in accordance with the timeframe that has been agreed upon, leading to its full implementation by 2015. The leaders directed the relevant bodies and organizations to speed up the implementation of the Emergency Program for Arab Food Security. They pledged to follow up on the implementation of the Strategy for Water Security in the Arab Region and Integrated Water Resource Management Project to meet the future challenges and requirements of water resources.
