BEIRUT, Lebanon, May 3 (NNN-KUNA) – Chairman of the Kuwait Chamber of Commerce and Industry, Ali Al-Ghanim, stressed the importance of economic relations amongst Arab countries, that play a key role in development of the Arab world.

Al-Ghanim made the statement to KUNA on the conclusion of the Arab Economic Forum, hosted by Lebanon, referring that Kuwait contributed to establishing the forum, which serves the cohesion of Arab economy.

Arab economic situation, especially after negative results of the so-called Arab Spring, forced several Arab countries to reconsider their economic policies, Al-Ghanim said.

Kuwait has taken several measures, enacted laws, allowed to establish companies and signed agreements with some countries, to reduce oil dependence, he said.

He referred to the Gulf efforts made in this respect, expressing his confidence that there are several fields for diversifying economy in GCC member states.

The event constitutes an opportunity for a number of Arab economists, who play a key role in developing economy to share expertise, he said.

Meanwhile, Vice President of Council of Saudi Chambers, Saleh Al-Afaliq told KUNA that, oil price fluctuations are unlikely a main factor, which affects Arab economy, as prices witness a decrease and a rise through an economic course.

There are challenges like security risks, combating corruption and creating jobs in the Arab world, he stressed.

Every Arab country seeks to solve its own problems, and all Arab countries, at the same time, work together to achieve Arab economic integration, in order to form an economic unity in the face of the world, he said.

During today’s discussions, the conferees focused on the current situations in the Arab region on economic, security and political levels, and their repercussions on the development march, and social, political and economic stability of the region’s states.– NNN-KUNA

Source: NAM News Network