Conference to discuss trade between Europe and Arab countries
by a staff reporter
A joint Arab-European commerce conference that will open tomorrow in Malta will be discussing the setting up of a free trade area among Arab countries and the investment opportunities in European and Arab countries.
The two-day annual coordinative meeting of the joint Arab-European Chambers of Commerce will be tackling the issues of export of Arab goods to Europe, the transfer of technology from European to Arab countries and the prospects of investment in Arab countries.
The conference organised by the Maltese-Arab Chamber of Commerce will be hosting 10 joint chambers from different parts of Europe. President Guido de Marco will open the conference at the SAS Radisson Hotel, St Julian's. Malta hosted the conference for the last time in 1976. Last year's conference was held in Tunisia.
The assistant secretary general of the Union of Chambers of Commerce for Arab Countries, Elais Ghantous, said in a press conference yesterday that tomorrow's event would be important in promoting trade relations. He said there were very good prospects for cooperation between the European and the Arab sides.
Three years ago 14 Arab countries started the process towards establishing the Arab Free Trade Area, which will is expected to be fully set up by 2007.
Dr Ghantous said a free trade area would not only increase trade among Arab countries but also enhance the economic potential of other countries, including Malta.
"Arab countries are getting to liberalise their economy and are implementing a process of privatisation. This is integrating them more with the outside world," Dr Ghantous said.
The Arab countries are implementing highly liberal investment laws attracting investment.
"Malta is centrally located and can address eastern Arab countries, North African countries as well as Europe," Dr Ghantous said.
The President of the Maltese-Arab Chamber of Commerce, Maurice Mizzi, said the league of Arab states gives great importance to joint chambers which represent a bridge of understanding and cooperation between Arab and hosting countries.
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