ALESC’s 75th meeting recommends economic reforms [Archives:2005/819/Local News]

February 24 2005

Functions of the 75th meeting of the Arab League's Economic and Social Council (ALESC) were concluded at the end of last week in the city of Aden with recommendations that focused on economic reforms and initiatives to facilitate trade between Arab countries, enhance transparency and remove any barriers to investors.

Dr. Khalid Sheikh, Yemeni Minister of Industry and Commerce chaired the meeting sessions.

The concluding statement confirmed the importance of supporting the economic sector at the General Secretariat of the Arab League and providing the human and financial facilities through the budget of the Arab League's member countries. It also stressed that specialized Arab organizations should abide by the decisions issued by the Arab league concerning the restructuring of the joint work of Arab establishments and the executive offices of Arab organizations particularly in fields related to financial and administrative affairs.

The meeting requested from the Arab Leagues' General Secretary to prepare the practical program to support the less-developing countries and help them join the Big Arab Free Trade Organization (BAFTO).

Regarding the customs-related restrictions in Arab countries, the council decided the suspension of work in the agricultural sector and suspending the issuance of licenses of import and export according to what has been mentioned in the executive program of the BAFTO.

The meeting concluded that there is urgent need to ease of border procedures and developing transit agreements between Arab countries as well as practicing the principle of mutual cooperation to facilitate the movement from one country to another.

Concerning the Arab trade motion, the council left the subject to the public and private sectors in the Arab countries and recommended that custom managers should meet to present their own proposals in this respect.