Sheikh Khalifa bin Jassim bin Mohammed Al Thani, QC Chairman
Doha: Qatar Chamber (QC) Chairman Sheikh Khalifa bin Jassim bin Mohammed Al Thani has stressed the need to revitalise intra-Arab trade, which is still under the level of ambitions, where it represents about 10 percent of the total Arab trade.
Sheikh Khalifa pointed out in an opening article for the August issue of Al Moltaqa magazine issued by the QC, that despite the existence of tremendous facilities and the complete customs exemptions provided by the Greater Arab Free Trade Area (GAFTA) established two decades ago, the intra Arab trade still requires solutions to return back on track.
He praised the meetings of the 131st session of the Board of Union of Arab Chambers, that were held last June with the participation of unions heads, heads of Arab chambers of commerce and industry, and came to highlight the most important issue, which is the necessity of enhancing the intra-Arab trade.
Sheikh Khalifa said that there is continuous coordination between Arab chambers of commerce and industry, to enhance the intra-Arab trade and mutual investments. Moreover, the General Union of Chambers of Commerce, Industry and Agriculture of the Arab countries works along with its members to encourage the intra-Arab trade and supporting the Greater Arab Free Trade Area to reach a joint Arab market.
“The Arab countries urge enhancing the joint Arab investments by identifying the business opportunities in each country, facilitating the exchange of investments, and establishing joint investments, pursuing achievement of the Arab economic integration”, Sheikh Khalifa said.
He added that these efforts are still lacking the Arab businessmen’s interest in directing their investments to the Arab countries, the Arab governments’ intention to enact legislations for facilitating the import of Arab goods, and the willingness of Arab consumer to buy Arab goods.
“By achieving the above, the intra-Arab trade will meet the Arab countries’ aspirations for the economic integration, which makes them an Arab economic bloc” Sheikh Khalifa added.
