Arab trade is very low compared to the size of Arab trade with foreign countries, necessitating the work for the establishment of Arab common market. President Morsi highlighted the common challenges facing the Arab nation, including how to deal with the negative effects of globalization, noting the importance of joint coordination to face financial turmoil and volatility in exchange rates and to address the problem of high unemployment. President Morsi pointed out that Arab states should optimally exploit groundwater and desalinated sea water in agriculture and irrigation and should cooperate to face the challenges of sustainable development. Concluding his speech, President Morsi handed over the presidency of the current summit to the Crown Prince, stressing that the Kingdom of Saudi Arabia under the leadership of the Custodian of the Two Holy Mosques King Abdullah bin Abdulaziz Al Saud will spare no effort to enhance the joint Arab economy. --More
