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Arab Economic Summit to focus on infrastructure development projects
The projects due for presentation at the Arab Economic Summit, to be held on 19th January 2008 in Kuwait will focus on infrastructure development for facilitating the movement of people and goods across Arab borders, said an official at the Finance Ministry.
Yousef Al-Roumi, the Director of the Gulf and Arab Economic Co-operation Department, when speaking to the media said, it may not be a regular meeting, as it would focus on specific projects which would be referred to the Arab leaders.
These projects would have great impact on Arabs, such as the Arab electricity grid, the railway project, achieving food security, and tackling unemployment issues, among others.
Several guidelines have been put in place, to determine the projects that should be presented to leaders during the Summit, and the projects were on the list of Arab action priorities. The Ministerial Committee responsible for preparing the summit will be led by Mustafa Al-Shimali, the Kuwait Finance Minister.
A preparatory committee meeting would be held on 18th November to review the projects to be presented at the Economic Summit. Another meeting on the 20th at the ministerial level is likely.
On the sidelines of the summit, an Economic Forum is also likely to be held to discuss the global financial crisis and its impact on the Arab world. This would include issues such as investment, transport, commerce, energy, scientific research, development and reform in Arab action.
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