GCC summit in Kuwait to prop up stability - economists
Kuwait News Agency - 02 December, 2009
Lebanese economists believed here Wednesday that the forthcoming GCC summit due in Kuwait on December 14-15 would surely shore up regional stability and Arab cooperation.
Separately interviewed by the Kuwait News Agency (KUNA), the economists hoped that the gathering titled "Kuwait Summit and Gulf Ambition" would come up with recommendations and resolutions that could lead to resolving several regional economic issues.
They also extolled Kuwait's pioneering role in the further promotion and reinforcement of economic relations among the Arab countries.
Dr. Ghazi Wazni, an economist, stressed the significance of the 30th GCC summit which comes at a time when the Arab economy is recovering, with forecasts of more growth rates and oil earnings next year.
Asked about the reflections of the Arab economic summit in Kuwait in January 2009, he said: "Kuwait was and is still the pioneering country in consolidating common Arab action, and everybody always remember the time when the Arab Economist Summit was held in Kuwait upon initiative from H.H. the Amir Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah and a USD two billion Arab fund for financing small and medium-sized projects." "The State of Kuwait always plays a pivotal role in the consolidation of economic ties among Arab countries due to the fact that it is well aware of foreign economic risks and relevant ramifications on Arab economies," the Lebanese expert said.
On a planned single Gulf currency, Wazni said this issue would surely figure out prominently on the agenda of the coming Gulf gathering.
Also speaking to KUNA, Economy and Business Group General Manager Raouf Abu Zaki said cooperation among the GCC member countries is a vivid example for the entire Arab world in view of economic, social and political integration.
He underlined the importance of holding the next GCC summit in Kuwait, the country, which he said, is always the backer of all Arab issues.
This summit will lay down the groundwork for future Gulf strategies aiming to stave off economic risks and perils, he said.
Abu Zaki commended the Arab Economic Summit in Kuwait in January as having favorably reflected on the overall Arab situation, especially as for common Arab cooperation.
He also hailed the GCC whose countries' gross domestic product (GDP) hits roughly USD 823 billion as one of the most successful economic blocs on the Arab arena thanks to its members' identical economic structures, development goals and economic and social progress.
But, he voiced hope that the forthcoming GCC summit would come up with resolutions that could lead to the launching of a planned Gulf power grid as a mammoth economic base.
For his part, Talal Atrees, an economist, stressed the significant role of the GCC countries in the achievement of economic and political integration to cover all other Arab nations.
He expected that the agenda of the summit would involve the Palestinian cause, the fallout of the global financial crisis on Arab countries, the Yemeni issue and Iran's controversial nuclear program.
The Lebanese expert believed that the Gulf gathering would lead to more stability in the Gulf region in all fields.
He called for launching the planned power grid, Gulf single currency and a cultural strategy at an early date.
Kuwait News Agency - 02 December, 2009
Lebanese economists believed here Wednesday that the forthcoming GCC summit due in Kuwait on December 14-15 would surely shore up regional stability and Arab cooperation.
Separately interviewed by the Kuwait News Agency (KUNA), the economists hoped that the gathering titled "Kuwait Summit and Gulf Ambition" would come up with recommendations and resolutions that could lead to resolving several regional economic issues.
They also extolled Kuwait's pioneering role in the further promotion and reinforcement of economic relations among the Arab countries.
Dr. Ghazi Wazni, an economist, stressed the significance of the 30th GCC summit which comes at a time when the Arab economy is recovering, with forecasts of more growth rates and oil earnings next year.
Asked about the reflections of the Arab economic summit in Kuwait in January 2009, he said: "Kuwait was and is still the pioneering country in consolidating common Arab action, and everybody always remember the time when the Arab Economist Summit was held in Kuwait upon initiative from H.H. the Amir Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah and a USD two billion Arab fund for financing small and medium-sized projects." "The State of Kuwait always plays a pivotal role in the consolidation of economic ties among Arab countries due to the fact that it is well aware of foreign economic risks and relevant ramifications on Arab economies," the Lebanese expert said.
On a planned single Gulf currency, Wazni said this issue would surely figure out prominently on the agenda of the coming Gulf gathering.
Also speaking to KUNA, Economy and Business Group General Manager Raouf Abu Zaki said cooperation among the GCC member countries is a vivid example for the entire Arab world in view of economic, social and political integration.
He underlined the importance of holding the next GCC summit in Kuwait, the country, which he said, is always the backer of all Arab issues.
This summit will lay down the groundwork for future Gulf strategies aiming to stave off economic risks and perils, he said.
Abu Zaki commended the Arab Economic Summit in Kuwait in January as having favorably reflected on the overall Arab situation, especially as for common Arab cooperation.
He also hailed the GCC whose countries' gross domestic product (GDP) hits roughly USD 823 billion as one of the most successful economic blocs on the Arab arena thanks to its members' identical economic structures, development goals and economic and social progress.
But, he voiced hope that the forthcoming GCC summit would come up with resolutions that could lead to the launching of a planned Gulf power grid as a mammoth economic base.
For his part, Talal Atrees, an economist, stressed the significant role of the GCC countries in the achievement of economic and political integration to cover all other Arab nations.
He expected that the agenda of the summit would involve the Palestinian cause, the fallout of the global financial crisis on Arab countries, the Yemeni issue and Iran's controversial nuclear program.
The Lebanese expert believed that the Gulf gathering would lead to more stability in the Gulf region in all fields.
He called for launching the planned power grid, Gulf single currency and a cultural strategy at an early date.