QATAR: Emir attends Arab economic summit

HH the Emir Sheikh Hamad bin Khalifa al-Thani attending the opening session of the third Arab Economic and Social Development Summit  at King Abdulaziz International Conference Centre in Riyadh yesterday.

Qatar’s Emir, HH Sheikh Hamad Bin Khalifa Al Thani in Riyadh, Saudi Arabia

The session was also attended by HE the Prime Minister and Foreign Minister HE Sheikh Hamad bin Jassim bin Jabor al-Thani and members of the official delegation accompanying the Emir. Arab leaders, taking part in the two-day summit, called for the strengthening of mutual trade and co-operation in order to face challenges brought on by the Arab Spring uprisings. “We should achieve an Arab common market,” said Egyptian President Mohamed Mursi, urging Arab nations to “catch up” in the realm of free trade.

HH the Emir Sheikh Hamad bin Khalifa al-Thani holding talks with Egypt’s President Dr Mohamed Mursi and Tunisia’s President Moncef al-Marzouki on the sidelines of the Third Arab Economic and Social Development Summit in Riyadh yesterday. HE the Prime Minister and Foreign Minister Sheikh Hamad bin Jassim bin Jabor al-Thani also attended the meeting.

Speaking on behalf of the Custodian of the Two Holy Mosques King Abdullah bin Abdulaziz al-Saud, Saudi Crown Prince Salman bin Abdulaziz al Saud, who is also the deputy premier and minister of defense, highlighted economic and social challenges facing the region and also pointed to weak inter-Arab trade.

“I avail this opportunity to call for increasing the capital of Arab financial institutions with no less than 50% of its current value, as agreed by the governors of those institutions, in order to keep up with the growing demand for funding Arab development projects and supporting Arab countries, particularly the least developed countries”  he said .

The Saudi King  also called  for increasing the capital of existing joint Arab companies with no less than 50% of its current value, as proposed by the boards of directors of those companies, in order to expand their businesses and enhance their participation together with the Arab capitals of the private sector.

Source: Caye Global News, Gulf Times, QNA, SPA

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