Developing Arab Economic Cooperation According to the Requirements of Global Changes
At the outset, and before diving into the details of the economic circumstances and conditions that the world is going through, and from our Arab countries, and the impact of all this on our Arab economies, I must express how proud and honored I am of assuming the presidency of the Union of Arab Chambers for the next two years.
Allow me, on this occasion, to salute and praise His Excellency Mr. Abdullah Mohammed Al Mazrouei, President of the Federation of Chambers in the United Arab Emirates, for the tremendous efforts he made during his presidency of the Board of Directors of the Union. Amid the darkest conditions that have passed and are going through in our Arab countries, so his tenure was characterized by renewal, development, work, and achievements that will be etched in the golden record of the Union.
Now, what the world is going through makes us, as the Arab private sector, in cooperation and partnership with the governments of our Arab countries, seriously discuss issues of concern to our economies and peoples to rise to the ranks of developed and prosperous countries. Among these issues are the "Unified Arab Investment Agreement", "obstacles to Arab trade in light of digital transformation, sustainable development needs and global developments", “the role of Arab chambers as a guarantor partner and their work as trust chambers for commercial operations”, and “the reality of transport and logistics in light of global challenges”. In addition to "the emerging challenges in global trade and the options and opportunities available to the global economy", adding up to many important issues that require us, as the Arab private sector, to coordinate and work to complete the process of development and advancement in the Union. As well as confronting the challenges facing our Arab countries and meeting the aspirations of our Arab youth, who dream of a better tomorrow.
It is also necessary to pay more attention to the educational process in Arab countries and to bring about a qualitative development in educational curricula, especially scientific curricula, to ensure that graduates have the knowledge and high skills that allow them to contribute to advancing the development process. Achieving a comprehensive Arab renaissance, developing education, and improving its curricula, tools, and mechanisms as a condition for building qualified human capacities capable of keeping pace with the developments of the times and building enlightened Arab societies.
It also requires the circumstances imposed by the “Corona” pandemic, which has produced negative economic repercussions on all global economies, in addition to the global political and security crises as a result of the Russian war on Ukraine, which created a state of global panic due to the inflation wave that most countries of the world are facing today, and the fear of global food insecurity due to the global imbalance in the supply chains, working on preparing an action plan aimed at developing Arab economic cooperation, increasing trade exchange and linking infrastructure in the fields of transport and energy, enhancing Arab investments in Arab countries, especially in the sectors of the digital economy and the Fourth Industrial Revolution, in a way that helps bring about economic and regional development and provide job opportunities for Arab youth.
While appreciating the achievements made by many Arab countries in the field of sustainable development, which economic policies must seek to maximize. On the other hand, there are Arab countries that are still suffering from dire economic conditions. Faced with this reality, all efforts must be employed in order to develop proposals that can be implemented quickly in order to develop partnerships with the private sector, create a stimulating investment environment, and raise comprehensive recommendations before the next summit. We stress the necessity of tangible progress towards the establishment of the Greater Arab Free Trade Area and the Customs Union.
Therefore, we face great challenges, so there is a need for continued consultation and communication in order to adopt the best means and adopt practical programs that enable us to restore the initiative in our Arab world, and to advance in efforts aimed at resolving crises and achieving sustainable development. Creating opportunities and consecrating the values of democracy, human rights, citizenship, and equality that enhance collective national identities, protect the nation-state, the pillar of the Arab regional system, prevent disintegration and conflict, protect our Arab countries, and make us safeguard security and enlightenment and achieve more accomplishment.
