Source: Emirates News Agency

The United Arab Emirates participates in the work of the extraordinary session of the Arab Economic and Social Council, which began today at the headquarters of the General Secretariat of the League of Arab States at the level of senior officials of ministries of economy in the Arab countries in the presence of Ambassador Kamal Hassan Ali, Assistant Secretary-General of the Arab League and head of the economic affairs sector, to discuss the draft file Economic raised for the second joint meeting of Arab and African Ministers of Economy, Trade, and Finance for the Arab-African Summit at its fifth session, scheduled in the Kingdom of Saudi Arabia this year

The state will be represented at the meeting by His Excellency Mohamed Saleh Shalouah, Adviser to the Minister of Economy

Ambassador Kamal Hassan Ali stressed the importance of the two-day meeting to prepare the economic file for the summit, stressing the importance and depth of Arab-African relations that are characterized by many commonalities in all economic, social and political fields, as well as the volume of trade exchange and significant cooperation between the two sides, especially since there are ten African Arab countries

Ambassador Kamal Hassan said – in the speech of the General Secretariat of the Arab League during the opening session of the meeting – that the African continent is a large and promising market for commercial exchange, as the Arab region is rich in its resources, and therefore cooperation between the two regions will have fruitful and positive results on both sides, stressing the importance of good preparation for the summit until it comes out Worthy of the Arab world, the Kingdom of Saudi Arabia, and the Arab League

Ambassador Kamal Hassan pointed out that the economic file submitted to the second joint meeting of Arab and African ministers of economy, trade, and finance includes many important issues, indicating that the meeting will prepare a document in cooperation with the African Union to raise an agreed formula between the Arab League and the African Union for the second joint meeting of economic ministers Arab and African trade and finance for the summit

The draft file includes seven items that address the joint activities report of the Secretary-General of the League of Arab States and the Chairperson of the African Union Commission on follow-up to the implementation of the decisions of the Arab-African Summit at its fourth session held in Malabo 2016 regarding economic aspects, and the results of the implementation of the initiatives of the Emir of the State of Kuwait on soft loans and investment in Africa And Dr. Abdul Rahman Al-Sumait Award for Development Research in Africa

The file also deals with a draft preferential agreement between Arab and African countries, the Arab-African Bridges Program, and the results of the Arab-African Economic Forum

The draft file also includes coordination of financing joint Arab-African projects and ongoing preparations for the Arab-African Trade Fair