$800
billion - the volume of Arab sums abroad
Arab News
25 Feb. 2002
The chairman of the general federation of the chambers of commerce
and industry for the Arab states Khaled Abu Ismael, who is also
the chairman of the general federation of the Egyptian chambers
of commerce has stressed the need of completing the project of the
Arab Free Trade Zone which constitutes the base to attract investments
from abroad and invest them in the Arab industrial and technological
merging.
In press statements Abu Ismael said that the recent incidents will
have a clear impact on international relations especially on inter-
Arab relations. He indicated that there is a notable recession in
the volume of inter- Arab trade in comparison with the Arab trade
with international sides.
He added that there are $ 800 billion of Arab sums that should
be re-invested in various Arab states, adding that this will come
through completing the Arab Free Trade Zone. He continued that this
matter requires further economic integration among the Arab states
so as to become a common market that can include the largest share
of national product as Arab states population will be 280 million
inhabitants, and still inter- Arab trade is only 8 to 9 percent
of its total trade.
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