The Economic and Social Council adopts Arab recommendations for comprehensive development

Date: 08 - 02 - 2021

The Economic and Social Council of the League of Arab States, at its meeting at the ministerial level in its 107th regular session yesterday, Thursday, adopted a number of recommendations and economic and social items that serve the comprehensive and sustainable development process at the level of the Arab region, including the Arab vision for the digital economy, in the presence of His Excellency the Secretary-General of the League Arabic Ahmed Aboul Gheit and the participation of the Arab Ministers of Economy and Trade.

The UAE presented two initiatives to enhance Arab cooperation in the fields of space and the digital economy, and they were submitted within the file of the 31st Arab Summit. The first initiative is the launch of the “Arab Space Brilliant Program”, while the second initiative focuses on the topic of “The Arab Vision for the Digital Economy”.

In the meeting, Minister of Economy Abdullah bin Touq Al Marri stressed the UAE’s keenness, based on the vision and directives of its wise leadership, to support joint Arab action efforts and initiatives in various economic and social fields of common interest, and to enhance the elements of Arab economic integration, to create an encouraging environment for activities and businesses in various sectors. The vital economy of the Arab countries.

His Excellency also indicated that “the topics discussed by the council meeting are of great importance in terms of their impact on the Arab economies and their sustainable growth, especially with regard to trade and customs policies, the renewable energy sector and nuclear energy for peaceful purposes and others. We will be keen to work closely and exchange experiences with our brothers in Arab countries to develop effective mechanisms to implement these programs and initiatives to ensure that their results are reflected by generating trade and investment opportunities, and raising levels of growth and quality of life at the Arab level in general.”

He stressed the importance of enhancing coordination, cooperation, establishing joint projects and exchanging experiences and knowledge between Arab countries in the space and digital economy sectors, as they are among the main drivers for building future economies, adding, “The UAE today has rich experience in the areas of the new economy, foremost of which is space and the digital economy, and we have achieved regional leadership. And global advanced ranks in many of the activities and applications related to these two vital sectors, and we welcome the exchange of our experiences and the establishment of fruitful partnerships with Arab countries during the next stage.”

The Arab Economic and Social Council also discussed, during its meeting, the agreement of the Arab common market for electricity, and the executive plan of the Arab strategy for aquaculture. And it approved the minutes of its technical committees, such as the Implementation and Follow-up Committee, the Standing Committee on Arab Rules of Origin, the Committee of Legal Experts specialized in developing the dispute settlement mechanism within the framework of the Greater Arab Free Trade Zone, and the Liberalization Committee for Trade in Services. The council also discussed the latest developments in Arab international cooperation with China, India, Japan and Brazil.