Summit to discuss new Arab stock exchange
Manama, January 19, 2013
The setting up of a joint Arab exchange in Bahrain will be discussed at a key joint Arab Foreign and Finance Ministers' Meeting being held today in Manama.
Foreign Minister Shaikh Khalid bin Ahmed Al Khalifa and Finance Minister and Minister in charge of Oil and Gas Affairs Shaikh Ahmed bin Mohammed Al Khalifa will take part in the joint Arab Foreign and Finance Ministers' Meeting today to in prepare for the third Arab Economic and Social Development Summit which will take place in Riyadh on Monday and Tuesday.
The meeting will discuss the initiative of His Majesty King Hamad to establish a joint Arab stock exchange, for which he ordered the allocation of land to be headquartered in Bahrain, reported the Gulf Daily News, our sister publication.
The summit will review the progress made since the first Arab Economic, Social and Development Summit held in Kuwait in 2009, and most importantly the follow-up on the previous economic summits' resolutions, including the Arab initiative to support and fund short- and long-term private sector projects.
During their two-day meeting in Riyadh, Arab leaders will discuss Arab power grid, railway link, food security, customs union, sea network and IMF initiative to promote co-operation with Arab states.
The resolutions on unemployment issue and poverty eradication, education development and improvement of healthcare services in the Arab world will also feature in the agenda of the meeting.
The ministers will discuss the revised Unified Agreement for the Investment of Arab Capital in the Arab States aiming to encourage the transfer of capital to Arab countries and the protection of investments.
On top of the agenda is the Arab strategy to develop renewable energy utilisation for the years 2010-2030, ratified by the Arab Electricity Council to enhance usage of renewable energy, build national capacities and encourage exchange of experience in this regard.
The ministers will review the outcome of International Conference on Healthy Lifestyles and Non-communicable Diseases in the Arab World and the Middle East which was approved by the Arab Council of Ministers of Health to promote co-operation between all Arab authorities to combat non-communicable disease, as well as the review of the recommendations of a number of forums that preceded the summit including, the Arab Private Sector, Youth, and NGOs forums.
The third Arab Economic and Social Development Summit will focus on development issues, and Arab social and economic co-operation in joint Arab programmes to realise an Arab economic bloc that will support Arab economies at regional and international stage.-TradeArabia News Service