Thursday, November 8, 2018
The Council of Arab Economic Unity signed a cooperation protocol with the Organization for Economic Cooperation and Development (OECD) to support the shared vision for the digital economy and build infrastructure for sustainable development in Arab countries. The protocol was attended by Mari Kiviniemi, Deputy Secretary-General of the OECD, and Dr. Ali Al-Khouri, Advisor to the Council of Arab Economic Unity.
This came on the sidelines of the Council’s participation in the OECD’s activities in Seoul, South Korea, regarding the 2018 e-Leaders’ Meetings. The meeting aimed to support the Arab and regional economy’s digital transformation, specifically to activate governance and regional development, support key sectors, particularly agriculture, statistics, and trade, and implement the “Better Living” initiative adopted by the OECD.
Dr. Ali Al-Khouri, Advisor to the Council of Arab Economic Unity, stated that the 32-member working group, formed in cooperation with the OECD, seeks to discuss economic, social, and environmental changes, particularly in economic, developmental, and trade reform, to achieve economic development for people.
He explained that the transition to a digital economy has become inevitable in light of regional and global transformations. He explained that there are axes to support Arab governments’ digital transformation plans, enhance financial inclusion plans, and support the development of knowledge, legislative, and technological infrastructure in Arab countries.
He stated that well-thought-out legislation and investment climates can attract capital in ways that meet the positive goals sought for Arab peoples. He noted the existence of targets and measures to stimulate economic unity among Arab countries through the digital economy.
Al-Khouri pointed out the need for international investment funds to focus on building capacity and technology infrastructure in the Arab world, in addition to the participation of experts and academics in the subcommittees formed by the Council of Arab Economic Unity to review the strategy for activating the digital economy.
