São Paulo – Despite the economic crisis lived by Europe and the social crisis lived by some Arab countries, there are chances of economic and commercial cooperation between both regions. This was the tone of the first day of the Arab-European Economic Forum, on Wednesday (12), in Beirut, Lebanon. The CEO at the Arab Brazilian Chamber of Commerce, Michel Alaby, is participating in the event that goes on up to Thursday (13).
Promoted at the General Union of Chambers of Commerce, Industry and Agriculture for Arab Countries, the forum includes representatives of governments, Arab and European financial institutions and also chambers of commerce in both regions.
“The minister of Economy of Lebanon, Nicolas Daher, commented the current economic situation of the country, with high reserves in foreign currency, around US$ 45 billion, and foreign direct investment, which reached US$ 2 billion in 2011,” said Alaby. “The great concern, according to the minister, with regard to the Arab countries, is the question of food safety and the generation of jobs for the young population, [and] improvement in the educational level, greater trade and foreign investment. Europe, through its educational assistance programme, may operate decisively in matters like professional training,” he added.
The director general said that Phillippe de Fontaine, vice president of the European Investment Bank, commented that the countries of the Mediterranean and Africa and the Middle East (except for Israel) should increase their Gross Domestic Product (GDP) in 2012 by approximately 3%, reaching US$ 2 trillion.
Alaby also pointed out the comments of Angelina Eickhart, head of the European delegation in Lebanon. According to her, Europe offers financial support to projects for small and medium companies in that country, for the value of 1 million euros, in the textile, food, metallurgy, wooden furniture and handicraft sectors.
To Saeb Nahas, from Nahas Enterprises, companies in the pharmaceutical sector, “the new winds blowing in the Arab countries require from businessmen in the region more active operation in the search for support of governments in economic policies, improvement in the educational level of the population, search for development of greater trade, the fostering of national investment through foreign financing offered by the European Union and Arab funds, aimed at improving infrastructure,” said Alaby.
According to Alaby, Peter Bekx, the Economic and Financial Relations director of the European Community, forecasted hard times for Europe, due to high rates of unemployment, fiscal imbalance and the need for corporate governance in the European countries. “The Arab countries should improve access to international fund and loan markets, as well as seeking funds through public offerings of their companies,” pointed out Bekx, according to the CEO at the Arab Brazilian Chamber.
“Integration between the Arab countries is the key to improving the political and economic environment, as well as the social level. Businessmen may play an important part in this integration,” said Alaby.
The first day of the event was accompanied by around 400 people, among the businessmen and authorities from countries like Egypt, Sudan, Yemen, Tunisia, Algeria, Jordan, Iraq, Libya, Lebanon, Syria and Saudi Arabia. Also present were representatives of the Arab-German Chamber, the Arab-Austrian Chamber, the Arab-English Chamber and the Arab-Luxembourg Chamber.
*Translated by Mark Ament
