Chairman and Director General of the Arab Monetary Fund (AMF) Dr. Jassim Al-Mannaie said the upcoming Arab Economic Summit should analyze the effects of the world economic crisis and discuss ways to deal with it. Al-Mannaie told KUNA that the summit, to be held in Kuwait on January 19-20, should discuss issues aimed at boosting economic cooperation among Arab countries and achieve integration of their economies. Such issues, he said, included activating the Arab free trade zone, creating a joint Arab market, encouraging the movement of Arab employees among Arab nations, and improving communication, transport networks, and investment environments. The summit will discuss attracting Arab and foreign investments and boosting Arab tourism, he added. He pointed out that trade among Arab countries had increased noticeably in the past five years due to economic reforms and the liberation of trade sector, reaching USD 64 billion. He said that AMF would present two papers at the meeting of Arab finance ministers and central banks' governors that would be held on January 14. One paper will discuss the economic crisis and its impact on Arab economies, while the other will discuss developing systems of payments and infrastructure needed for investment in the Arab world and encouraging trade among Arab countries, he said. Al-Mannaie expressed belief that the outcomes of the summit would improve the living standards of the Arab people and inter-connect Arab financial sectors.
