Kuwait hopes pre-Arab Summit economic, social ministerial talks boost ‘joint action’

This news has been read 13886 times!

League’s support crucial to overcome global challenges

ALGIERS, Oct 29,: Kuwait hopes that pre-Arab Summit economic and social ministerial talks held on Friday do much to boost joint Arab action, outlining its commitment to efforts that contribute to the decisions that will emanate from the upcoming November 1 major regional talks. Kuwait’s Finance Ministry Assistant Undersecretary for Economic Affairs Talal Al-Namesh, who headed Kuwait’s delegation at the talks on behalf of the Finance Minister, said many topics related “joint Arab economic and social work,” were discussed. These included an Arab League Secretary General follow-up to the implementation of the previous recommendations resulting from the 2019 Arab Summit session in Tunis on the joint Arab economic, social and development work, requirements for a greater Arab free trade zone and the establishment of an Arab customs union.

Kuwait’s Finance Ministry Assistant Undersecretary for Economic Affairs Talal Al-Namesh at the pre-Arab Summit on Friday.

He mentioned that “the Council thanked the State of Kuwait for the proposal it submitted, regarding the preparation of the Arab strategy for food security.” It also discussed the support of countries hosting Syrian refugees – to reduce the economic and social burdens as a result, an Arab vision for a digital economy, and a mechanism to address resulting tax challenges, the post-COVID pandemic economic and social recovery, a strategy for the peaceful uses of nuclear power alongside Arab space cooperation and sustainable agricultural development.”

Al-Namesh concluded by expressing Kuwait’s hope that these issues contribute to strengthening “joint Arab economic and social action.” Arab League Secretary-General Ahmad Abulgheit speaking to Arab officials highlighted the need for “joint action” to overcome current global changes that have revealed weaknesses in the economic systems of some Arab countries. “Drought, turbulent population growth and weak agricultural investment, in addition to the climate factor” have all led to a deterioration in Arab food indicators, the Arab League chief said in a keynote speech at the pre-Arab Summit Social and Economic Council attended by Arab trade and commerce ministers.

The talks come days ahead of the Arab Summit, hosted by the Algerian capital, Algiers, between November 1 and 2. “The past three years have witnessed difficult events that have resulted in a complex and difficult international situation,” he added, mentioning that the COVID pandemic, in the meantime, has resulted in “high loans, unemployment inflation and disruption to supply and demand.”

“These problems concern everyone, from developed to developing countries,” he pointed out, outlining a comprehensive vision based on the mobilization of Arab capabilities to confront these situations. The Arab League chief called on Arab leaders to “support joint Arab action councils, whether financially or politically,” saying this will allow the region to “overcome difficulties and challenges providing there is an optimal use of resources and energies that are abundant in the region.”

He concluded his speech by emphasizing the topic of food security as “among the priorities” that will be “discussed extensively.” For his part, Algeria’s Trade Minister Kamel Rezig said the talks are being held under “exceptional circumstances” amid “profound political and economic transformations at the regional and international levels.”

These circumstances weigh heavy under a “global crisis of multiple economic, social and health dimensions,” he said, mentioning that this “situation requires us not to confront this separately, but rather as one homogeneous and united bloc.” “The acceleration of events on the global scene has made our Arab region the focus of the international community’s attention due to its impact on overall economic conditions,” he underlined. The Algerian minister went on to reiterate calls for “joint Arab action to reach a unified Arab economic and social bloc.”KUNA)

This news has been read 13886 times!

Back to top button

Advt Blocker Detected

Kindly disable the Ad blocker

Verified by MonsterInsights