Al-Ahram Weekly Online 25 - 31 October 2001 Issue No.557
Published in Cairo by AL-AHRAM established in 1875		Current issue | Previous issue | Site map

Towards integration

In an attempt to pinpoint the factors hampering Arab economic integration and develop strategies to overcome existing barriers, the Egyptian Centre for Economic Studies (ECES) held a conference this week entitled "Arab Economic Integration: Between Hope and Reality."

Ahmed Galal, executive director of ECES, summed up the situation: "50 years, and we are at a standstill." Pointing to the problem of capital flight, Taher Helmy, ECES chairman, noted that between $600-$800 billion of Arab capital is invested outside of the region.

Samiha Fawzy, professor of economics at Cairo University, pointed out that the average share of intra-Arab exports in terms of total exports by Arab countries is seven per cent of individual exports. She compared this figure to 60 per cent for the EU, 22 per cent for ASEAN and 41 per cent for NAFTA.

Ahmed El-Guweili, secretary-general of the Council for Arab Economic Unity, suggested that a resolution to the Arab-Israeli conflict is a fundamental prerequisite to future economic development in the region. Limited production in the Arab world and the existence of non-tariff barriers are other obstacles that need to be surmounted. He announced that the council has prepared a 20-year plan which focuses on industrial growth, technological development and increasing joint investments.

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