Arab League President Calls for Full Activation of Arab Free Trade Zone
The President of the Arab Chambers Union and the Tunisian Union of Industry, Trade, and Handicrafts (UTICA), Samir Majoul, has urged the full activation of the Arab Free Trade Zone, emphasizing the need to strengthen economic integration among Arab countries.
Speaking at the sidelines of the 137th extraordinary session of the Arab Chambers Union Council, Majoul stressed the importance of removing tariff and non-tariff barriers to increase intra-Arab trade volumes and boost the region's economies.
In this context, he advocated for the implementation of joint Arab projects, particularly in the fields of sustainable agriculture and water technologies, to address global challenges and ensure resource security in the region.
Majoul also called on Arab chambers to adopt strategies that favor start-ups and technological innovation, arguing that strengthening the competitiveness of the Arab private sector is essential for its positioning on the global market.
Highlighting the central role of the private sector as a driver of growth, Majoul emphasized the need to involve it more in the development of economic and fiscal policies. He also called for increased coordination to address global economic fluctuations, including the establishment of resilient Arab supply chains.
In the regional context, Majoul noted that the Arab world is facing a real crisis related to conflicts and ongoing transformations. Despite the abundance of energy resources in several countries, he pointed out that the main challenge lies in the ability to invest effectively in this sector.
On another note, Majoul called for a convergence of visions, a strengthened political will, and a climate of trust among Arab states, which he considers essential for building a common and sustainable economic future.
Key Takeaways:
- Activation of the Arab Free Trade Zone to strengthen economic integration among Arab countries
- Removal of tariff and non-tariff barriers to increase intra-Arab trade volumes
- Implementation of joint Arab projects in sustainable agriculture and water technologies
- Adoption of strategies that favor start-ups and technological innovation
- Increased coordination to address global economic fluctuations
- Convergence of visions, strengthened political will, and a climate of trust among Arab states
