Mon 29-05-2017 20:52 PM

UAE joins Arab League's meeting on Greater Arab Free Trade Area

CAIRO, 29th May, 2017 (WAM) -- The UAE participated in the 43rd meeting of the implementation and follow-up committee of the Arab League's Economic and Social Council, held on Monday in Cairo to discuss efforts made by the pan-Arab Greater Arab Free Trade Area, GAFTA, to facilitate trade between Arab countries.

The UAE delegation, headed by Mohammed Saleh Shelwah, Advisor to the Minister of Economy, joined representatives of the Arab economy and finance ministries as well as customs agencies.

Finding a new mechanism is essential for forming the Arab Customs Union and, eventually, an Arab joint market, a senior Kuwaiti official said in opening remarks at the meeting.

It is important to evaluate the activities of GAFTA over the past 19 years since the relevant agreement came into force in 1998, according to Yousef Al­ Roumi, Director of Arab and Gulf Economic Cooperation Department at Kuwaiti Finance Ministry.

 

WAM/Mahmoud

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