Moody's upgrades Saudi Arabia's credit rating to Aa3 with stable outlook    Riyadh Metro to begin partial operations next Wednesday: Report    Al Okhdood halts Al Shabab's winning streak with a 1-1 draw in Saudi Pro League    Mahrez leads Al Ahli to victory over Al Fayha in Saudi Pro League    Al Qadsiah hands Al Nassr their first defeat in the Saudi Pro League    Saudi musical marvels takes center stage in Tokyo's iconic opera hall    Downing Street indicates Netanyahu faces arrest if he enters UK    London's Gatwick airport reopens terminal after bomb scare evacuation    Civil Defense warns of thunderstorms across Saudi Arabia until Tuesday    Saudi Arabia, Japan strengthen cultural collaboration with new MoU    Slovak president meets Saudi delegation to bolster trade and investment ties    Saudi defense minister meets with Swedish state secretary    Navigating healthcare's future: Solutions for a sustainable system    Al Khaleej qualifies for Asian Men's Club League Handball Championship final    Sixth foreign tourist dies of suspected methanol poisoning in Laos    Katy Perry v Katie Perry: Singer wins right to use name in Australia    Trump picks Pam Bondi as attorney general after Matt Gaetz withdraws    Al-Jasser: Saudi Arabia to expand rail network to over 8,000 km    Sitting too much linked to heart disease –– even if you work out    Denmark's Victoria Kjær Theilvig wins Miss Universe 2024    Order vs. Morality: Lessons from New York's 1977 Blackout    India puts blockbuster Pakistani film on hold    The Vikings and the Islamic world    Filipino pilgrim's incredible evolution from an enemy of Islam to its staunch advocate    Exotic Taif Roses Simulation Performed at Taif Rose Festival    Asian shares mixed Tuesday    Weather Forecast for Tuesday    Saudi Tourism Authority Participates in Arabian Travel Market Exhibition in Dubai    Minister of Industry Announces 50 Investment Opportunities Worth over SAR 96 Billion in Machinery, Equipment Sector    HRH Crown Prince Offers Condolences to Crown Prince of Kuwait on Death of Sheikh Fawaz Salman Abdullah Al-Ali Al-Malek Al-Sabah    HRH Crown Prince Congratulates Santiago Peña on Winning Presidential Election in Paraguay    SDAIA Launches 1st Phase of 'Elevate Program' to Train 1,000 Women on Data, AI    41 Saudi Citizens and 171 Others from Brotherly and Friendly Countries Arrive in Saudi Arabia from Sudan    Saudi Arabia Hosts 1st Meeting of Arab Authorities Controlling Medicines    General Directorate of Narcotics Control Foils Attempt to Smuggle over 5 Million Amphetamine Pills    NAVI Javelins Crowned as Champions of Women's Counter-Strike: Global Offensive (CS:GO) Competitions    Saudi Karate Team Wins Four Medals in World Youth League Championship    Third Edition of FIFA Forward Program Kicks off in Riyadh    Evacuated from Sudan, 187 Nationals from Several Countries Arrive in Jeddah    SPA Documents Thajjud Prayer at Prophet's Mosque in Madinah    SFDA Recommends to Test Blood Sugar at Home Two or Three Hours after Meals    SFDA Offers Various Recommendations for Safe Food Frying    SFDA Provides Five Tips for Using Home Blood Pressure Monitor    SFDA: Instant Soup Contains Large Amounts of Salt    Mawani: New shipping service to connect Jubail Commercial Port to 11 global ports    Custodian of the Two Holy Mosques Delivers Speech to Pilgrims, Citizens, Residents and Muslims around the World    Sheikh Al-Issa in Arafah's Sermon: Allaah Blessed You by Making It Easy for You to Carry out This Obligation. Thus, Ensure Following the Guidance of Your Prophet    Custodian of the Two Holy Mosques addresses citizens and all Muslims on the occasion of the Holy month of Ramadan    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



AfTIAS Board of Directors Holds Meeting, in Jeddah
Published in Saudi Press Agency on 22 - 01 - 2019

The board of directors of the Aid for Trade Initiative for Arab States (AfTIAS) held here today a meeting at the headquarters of Islamic Development Bank (IsDB) in Jeddah, in the presence of IsDB Vice President for Administrative Affairs Sayed Aqa and CEO of International Islamic Trade Finance Corporation (ITFC) Eng. Hani Salem Sonbol.
At the outset of the meeting, the attendees watched a documentary highlighting AfTIAS's importance in enhancing economic integration among the Arab states and creating job opportunities.
Then, IsDB Vice President for Administrative Affairs Sayed Aqa delivered a speech in which he affirmed that the IsDB paid a great attention to funding and developing trade since decades due to its role in the development and as an incentive for investment, affirming that the bank provided all support for the ITFC to supervise implementation of the initiative program which is gained a great support of the Arab leaders during their participation in 3rd Arab Economic Summit held in Riyadh, 2013.
He added that the IsDB confirmed the importance of this initiative in promoting a size of trade exchange among the Arab states and supporting all relevant projects of the trade development issued by the Arab summits.
Sayed Aqa pointed out that the board of directors of the program approved 28 projects in 19 Arab countries, highlighting that these projects included priority fields and sectors for beneficiary countries through increasing the trade flow and reducing its cost by enhancing the border centers among Sudan, Egypt, Jordan and Saudi Arabia.
He added that the projects supported and enhanced the trade institutions in a number of Arab countries, the dates sector in Madinah and the woman's role in the international trade in addition to preparing and adopting the national export strategy in the Republic of Algeria and training and employment of young people for export in the Arab Republic of Egypt.
He affirmed that the IsDB seeks to support the initiative's program in response to the 4th Arab Economic Summit held in Lebanon two days ago, pointing out a big partnership with the regional and international partners in collaboration with ITFC in order to prepare the second phase of the program.
For his part, the ITFC CEO Eng. Hani Salem Sonbol affirmed the positive outcome of the program during the current period, adding that the program included various sectors and fields during five years. He highlighted challenges and difficulties facing the program
On the other hand, Dr. Mukhisa Kituyi, Secretary General of the United Nations Conference on Trade and Development (UNCTAD), disclosed that the UNCTAD has a partnership with AfTIAS in 2013 with aim to promote trade within the Arab region by supporting the competitiveness of export institutions and access to foreign markets. He asserted that the UNCTAD and other UN agencies are ready to design and implement the second phase of the AfTIAS.
He added that unemployment, particularly among the young people, is one of the most important economic and social challenges facing policymakers in the region today, affirming that it would be necessary to strengthen initiatives creating job opportunities for the young people.


Clic here to read the story from its source.