Awwal 28, 1432 H/March 3, 2011, SPA -- A coalition of Arab businessmen on Thursday urged private sectors of member countries to play a key role in shaping economic and social development in such a manner that responds to the demands of Arab protesters, dpa reported. "The current developments in the Arab world should prompt the Arab private sector to prepare itself for serious work with a view to correcting the process of the Arab economic and social development," the Federation of Arab Chambers of Commerce, Industry and Agriculture (FACCIA) said in a statement. The FACCIA made the remarks at the end of its 110th session as it concluded in Amman on the fringes of a conference for Arab businessmen and investors. It called for upgrading economic and social policies to ensure "a fair distribution of income among various segments of the society and achieving a balanced economic and social development throughout the Arab world." "Efforts should now focus on the accomplishment of justice, fighting corruption and monopolies, boosting competitiveness and adopting principles of transparency and effective accountability," the statement said. The meeting, which was chaired by FACCIA President Adnan Qassar, focused on the economic and social implications of the uprisings in Tunisia, Egypt and Libya and protests in other Arab countries. -- SPA
