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Arab-African nations must boost trade ties

Manama, October 28, 2010

Arab and African nations face common challenges as developing economies and must work together to address these issues, it has been claimed.

They should come together and utilise the historical, geographical, religious and existing trade mechanisms to boost co-operation, and common aspirations, Industry and Commerce Minister Dr Hassan Fakhro told delegates at the second Arab African Chambers of Commerce and Industry meeting in Bahrain, held under the patronage of His Royal Highness Prime Minister Prince Khalifa bin Salman Al Khalifa.

The meeting was organised by the Bahrain Chamber of Commerce and Industry in co-operation with the Association of Senates, Shura and Equivalent Councils in Africa and the Arab World.

'The various sessions of this forum will discuss ways of bolstering Arab-African trade and economic relations and fine-tuning the mechanisms to foster economic co-operation in trade and other areas,' he said.

'This meeting is both relevant and timely, coming soon after the Arab-African Summit, in Libya, which discussed energy co-operation, water resources, infrastructure investment, food security, agriculture co-ordination and trade.

'There is no better venue to enhance our co-operative efforts, joint investments and mutual dialogue, than through this forum,' he added.

'Bahrain is internationally renowned for its developed banking and financial sector and also as a regional trade gateway to the Middle East and Africa.

'It has sound political structure that strongly upholds the rule of law and for our open trade policies and the dynamism of our private sector, all underpinned by viable regional and international relations that offer opportunities for co-operation in practically all these sectors.

'It is fitting therefore, that this meeting is being held in Bahrain, a country of a strong proponent of regional economic integration and co-operation, with strong links to other Arab and African countries,' he added.-TradeArabia News Service




Tags: economy | commerce | Trade | arab | Cooperation | African nations |

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