Isaura Daniel*
isaura.daniel@anba.com.br
São Paulo – Business leaders in the Arab world want the region to turn its trade efforts to countries in southeast Asia, like China, and Latin America, mainly Brazil and Argentina. The theme was covered yesterday (02) at the 39th Congress of Chambers of Commerce, Industry and Agriculture for Arab Countries, which ends today (03) in Abu Dhabi, in the United Arab Emirates. The information was supplied by the secretary general at the Arab Brazilian Chamber of Commerce, Michel Alaby, who is participating in the event.
Foreign trade with the Arab countries, according to talks at the congress, is currently greatly focussed on the United States and Europe. According to information supplied during one of the talks at the meeting, by the secretary general of the Chamber of Commerce and Industry of Dammam, in Saudi Arabia, Mohamed Ibrahim, and by the secretary general of the Council of Chambers of Commerce and Industry of the Arab country, Fahd Al Sultan, the United States and Europe answer to 70% of Saudi foreign trade.
Trade between Saudi Arabia and the other Arab countries answers, for example, to just 6.5% of the total. Business leaders asked the countries to continue reducing import taxes to provide greater incentives to trade with different nations. The volume of foreign trade of the Arab world was US$ 900 billion in 2006, of which 10% answered to exchange between the countries in the region. The minister of Economy and Finance of the Emirates, Lubna Al Qasimi, who opened the event, discussed the importance of strengthening regional economic exchange.
The economic opening of the Arab world was also a greatly discussed theme at the congress, which brought together, according to Alaby, around 150 representatives of Arab chambers. The Arab countries are promoting a series of privatisations and incentives to private sector operation. This economic opening, according to the president of the General Union of Chambers of Commerce, Industry and Agriculture for Arab Countries, Adnam Kassar, should promote efficiency and improvement in local production. Lubna also recalled that the process should provide incentives to foreign investment.
The minister of the Emirates said that the economy of her country should grow 10% in 2007. The entrepreneurial sector, according to Lubna, has constant presence in business in the country and works with the support of the government, which grants incentives and financing for construction and infrastructure projects. Lower state presence in the local economy, through privatisations, was one of the appeals of leaders who participated in the meeting. The president of the Federation of Chambers of Commerce and Industry of Syria, Rateb Challal, spoke about the Syrian opening process.
According to Alaby, Challal stated that Syria has already taken a series of steps in this process, like the permission of the opening of foreign banks and the reduction of import taxes on some products. The president of the Syrian organization stated that his country is also going to reduce other import taxes by the end of the year and also eliminate the prohibition on import of other kinds of products. According to the secretary general at the Arab Brazilian Chamber, if the prohibition repealed includes goods, it may favour Brazil.
*Translated by Mark Ament
