The closing session of the Arab Economic Summit "In Solidarity with Palestinians in Gaza" was held here today. Comoros President Ahmad Mohammad Abdullah delivered a speech in which he thanked the Kingdom of Saudi Arabia led by Custodian of the Two Holy Mosques King Abdullah bin Abdulaziz for its support for Comoros. Egyptian Prime Minister Dr. Ahmad Nazif delivered a speech on behalf of the Egyptian President Mohammad Hosni Mubarak. Nazif called Arab leaders to set development priorities, proposing the inclusion of five issues among the priorities. These issues are: liberating the movement of capital among the states and the contribution of the private sector and civil societies; developing production in the Arab world by establishing regional companies; developing trade among Arab countries; preparing a plan to develop human resources through focusing on education, health, culture, and providing job opportunities; and giving importance to social issues. Nazif said that trade among Arab countries did not exceed USD 126 billion in 2007, which is very low to trade among other blocs like the Association of South-East Asian Nations (ASEAN). He said that trade among Arab countries was also low, ranging between 37 and 46 percent, while tourism among European countries equals 88 percent. He stressed that Arab countries had the abilities to achieve integration, emphasizing the significance of uniting efforts and visions to overcome the effects of the world economic crisis with the least possible losses and fastest time. --More
