Latest news with #GreaterArabFreeTradeArea
See - Sada Elbalad
5 days ago
- Business
- See - Sada Elbalad
Arab League Holds Workshop on Liberalisation of Financial Services Sector
Mohamed Mandour As part of its commitment to keeping pace with international trade developments that contribute to advancing Arab economic integration within the framework of the Greater Arab Free Trade Area (GAFTA), the General Secretariat of the League of Arab States is organising a workshop on "Liberalisation of the Financial Services Sector and Opportunities to Benefit from the Agreement on the Liberalisation of Trade in Services among Arab Countries," from 22 to 25 June in the Kingdom of Bahrain. The workshop is being held in cooperation and coordination with the Ministry of Industry and Commerce of the Kingdom of Bahrain and forms part of ongoing collaboration with the International Islamic Trade Finance Corporation (ITFC) under the second phase of the Aid for Trade Initiative for Arab States (AFTIAS 2.0), specifically the project entitled "Supporting the Advancement of the Arab Economic Integration System." His Excellency Ambassador Dr. Ali bin Ibrahim Al-Maliki, Assistant Secretary-General and head of the Economic Affairs Sector, stated that the workshop aligns with the General Secretariat's vision of enhancing Arab coordination and cooperation across all service sectors that support an improved business climate and foster a more integrated and competitive regional economic environment. He said that liberalising this strategic sector would unlock new opportunities for joint Arab investment and significantly contribute to the development goals of member states. The Agreement on the Liberalisation of Trade in Services, which entered into force on 14 October 2019, marks a pivotal step in this direction. Ambassador Al-Maliki underscored the need for concerted efforts to activate and effectively implement the agreement's provisions in a sustainable and impactful manner. The workshop aims to provide policymakers from Arab countries with insights into the development of the financial and insurance sectors across the region, as well as highlight best national legislative practices in these fields. It also showcases the contributions of international and regional organisations to the modernisation of these sectors and examine how Arab trade agreements can be leveraged to enhance the business environment, thereby improving performance indicators and aligning with global trends. Officials and experts from Arab countries that are members of the Greater Arab Free Trade Area will participate in the workshop to exchange knowledge and experiences, explore best practices, and strengthen collaboration in the financial services sector, with the objective of maximising the benefits of regional integration efforts. read more Gold prices rise, 21 Karat at EGP 3685 NATO's Role in Israeli-Palestinian Conflict US Expresses 'Strong Opposition' to New Turkish Military Operation in Syria Shoukry Meets Director-General of FAO Lavrov: confrontation bet. nuclear powers must be avoided News Iran Summons French Ambassador over Foreign Minister Remarks News Aboul Gheit Condemns Israeli Escalation in West Bank News Greek PM: Athens Plays Key Role in Improving Energy Security in Region News One Person Injured in Explosion at Ukrainian Embassy in Madrid News China Launches Largest Ever Aircraft Carrier Sports Former Al Zamalek Player Ibrahim Shika Passes away after Long Battle with Cancer Lifestyle Get to Know 2025 Eid Al Adha Prayer Times in Egypt Videos & Features Tragedy Overshadows MC Alger Championship Celebration: One Fan Dead, 11 Injured After Stadium Fall Business Fear & Greed Index Plummets to Lowest Level Ever Recorded amid Global Trade War Arts & Culture Zahi Hawass: Claims of Columns Beneath the Pyramid of Khafre Are Lies News Flights suspended at Port Sudan Airport after Drone Attacks Videos & Features Video: Trending Lifestyle TikToker Valeria Márquez Shot Dead during Live Stream News Shell Unveils Cost-Cutting, LNG Growth Plan Technology 50-Year Soviet Spacecraft 'Kosmos 482' Crashes into Indian Ocean
Observer
17-05-2025
- Business
- Observer
Arab Economic Summit discusses food security
BAGHDAD: HH Sayyid Shihab bin Tarik al Said, Deputy Prime Minister for Defence Affairs, headed the Sultanate of Oman's delegation to the Fifth Arab Economic and Social Development Summit, which began on Saturday in the Iraqi capital, Baghdad with the participation of a number of heads of states and governments. The summit discussed the Arab food security file, developments in the Greater Arab Free Trade Area (GAFTA) and the completion of requirements for establishing the Arab Customs Union. The summit also discussed the executive plan for the Arab Water Security Strategy in the Arab region to address future challenges and requirements for sustainable development. The summit also reviewed the strategic framework and executive action plan for the Regional Programme for the Economic and Social Empowerment of Arab Women, among other issues. The Sultanate of Oman's delegation accompanying HH Sayyid Shihab comprises: Sayyid Badr bin Hamad al Busaidy, Foreign Minister; Dr Abdullah bin Mohammed al Saeedi, Minister of Justice and Legal Affairs; Dr Said bin Mohammed al Saqri, Minister of Economy; Abdullah bin Nassir al Rahbi, Ambassador of the Sultanate of Oman to Egypt and its Permanent Representative to the Arab League and the Charge D'affaires of Oman's Embassy in Iraq. — ONA
Sharjah 24
17-05-2025
- Business
- Sharjah 24
Arab Economic, Social Development Summit kicks off in Baghdad
The summit will focus on priority economic and social issues at the Arab level, most notably strengthening Arab integration mechanisms and supporting sustainable development efforts in member states. Arab leaders will discuss the Arab Food Security Strategy, developments in the Greater Arab Free Trade Area, and the completion of requirements for establishing the Arab Customs Union. It will also examine the implementation plan for the Arab Water Security Strategy in the Arab region to address future challenges and requirements for sustainable development. The summit will also address a number of initiatives and proposals presented by Iraq to enhance joint Arab economic action. Agenda will also include the Mauritanian President's Blue Economy Initiative, the Arab League Secretary-General's Initiative entitled 'The Arab Artificial Intelligence Initiative: Towards Technological Leadership and Sustainable Development', and The Arab Strategy for Food Security until 203. This is the first time that the regular and development Arab summits have been held simultaneously, after the mechanism for simultaneous holding of the two summits was approved at the Arab Summit held in Algeria in November 2022.
Iraqi News
13-05-2025
- Business
- Iraqi News
Around 27, the most prominent items of the Arab Economic and Social Council meeting
The Ministry of Trade revealed the most prominent items on the agenda of the Arab Economic and Social Council's preparatory meeting for the development summit on Tuesday, noting that the total number of items reached 27. The Arab Economic and Social Council held its ministerial meeting, discussing the summit agenda, which included 27 items covering a range of economic, social, and developmental issues that are a priority for joint Arab action, according to a statement by the Ministry - received by the Iraqi News Agency - INA. The statement included the most prominent items of the meeting as follows: 1. Strengthening Arab economic integration: Focus was placed on completing the Greater Arab Free Trade Area project and enhancing electricity and transportation interconnection projects between Arab countries. 2. Food and water security: The meeting discussed initiatives to achieve food and water security in the region, including support for sustainable agriculture and the development of water resources. 3. The Arab Artificial Intelligence Initiative: The Secretary-General of the League of Arab States' initiative, the Arab Artificial Intelligence Initiative Towards Technological Leadership and Sustainable Development, was reviewed. It aims to promote the use of modern technologies in development. 4. Support and Shelter for IDPs from the Palestinian Territories: The meeting discussed the project to support and shelter displaced families from the Palestinian territories and to counter attempts to displace the Palestinian people from their land. 5. Empowering Youth and Women: The issues of empowering youth and women, developing technical education, digital transformation, and building cyber capabilities were discussed, with an emphasis on protecting Arab cultural heritage. 6. Issuing the "Baghdad Declaration". The summit is scheduled to conclude with the issuance of the "Baghdad Declaration," which is expected to embody the unified Arab position on the political, economic, and security issues on the agenda.
Jordan News
11-05-2025
- Business
- Jordan News
Jordan's Exports to Greater Arab Free Trade Area Reach JD 515 Million by End of February - Jordan News
Jordan's national exports to countries within the Greater Arab Free Trade Area (GAFTA) grew by 12.2% in the first two months of 2025, reaching JD 515 million, compared to JD 459 million during the same period last year. اضافة اعلان Meanwhile, imports from GAFTA countries rose by 4.2%, totaling JD 863 million by the end of February 2025, up from JD 828 million during the same timeframe in 2024, according to data from the Department of Statistics. As a result, Jordan's trade deficit with GAFTA countries declined to JD 348 million, down from JD 369 million in the same period last year. The total trade volume between Jordan and GAFTA countries increased to JD 1.378 billion, compared to JD 1.287 billion a year earlier. Saudi Arabia remained Jordan's top export destination within GAFTA, accounting for JD 141 million in exports (up 6.8%), followed by Iraq with JD 136 million (up 15.3%). Exports to Syria saw a remarkable jump, reaching JD 35 million, an increase of 483.3%. On the import side, Saudi Arabia was also Jordan's top supplier, with imports valued at JD 519 million, resulting in a trade deficit of JD 378 million with the Kingdom by the end of February. Jordan's key exports to GAFTA countries include fertilizers, pharmaceuticals, agricultural products (fresh/frozen fruits and vegetables), salts, skincare products, processed foods, furniture, textiles, clothing, and paints. Main imports from GAFTA states consist of crude oil and derivatives, jewelry, food products, plastic sheets and films, titanium oxide, polyethylene, polystyrene, and iron and steel products, among others. GAFTA, established in January 2005, is a regional economic bloc aimed at fostering economic integration and low-tariff trade among Arab nations. It currently includes 18 member states.
