Tuwaijri said the Arab free trade zone arrangement would be presented to the Arab ordinary summit in Damascus, showing that no compensations would be offered to less developed Arab countries who sustain economic or financial losses from the elimination of trade borders among Arab countries. He stated that the rate of Arab economic cooperation is higher than political cooperation at the moment, noting that delay in the implementation of economic projects is usually witnessed in more-than-two-partner joint venrues. He confirmed the set up of an Arab Investment Court which still lacks a constitutional reference for appealing its rules, he said. He denied reports that the convening of an Arab economic summit, tentatively proposed for 2009, would downplay the economic role of the ordinary Arab summit, saying that it would not be held on regular bases, but might be convened every three to four years if deemed necessary.
