ُEgypt’s Minister of Investment and Foreign Trade Mohamed Farid Saleh has reaffirmed Egypt’s call for deeper Arab economic integration, stressing that rapidly evolving regional and international conditions require stronger co-operation to advance development and address shared challenges.
Delivering Egypt’s address at the 118th session of the Economic and Social Council of the League of Arab States at ministerial level, Minister Farid noted that intra-Arab trade has exceeded $250 billion, highlighting the considerable potential to expand trade and investment by building on the capabilities and resources of Arab economies.
He stressed that creating a more integrated Arab economic bloc requires moving beyond coordination towards the effective integration of markets and financial and investment sectors. Priorities should include advancing the Greater Arab Free Trade Area and Arab Customs Union, removing barriers to trade and investment, and promoting the movement and expansion of Arab investments.
Minister Farid also called for unified trade and investment data systems to strengthen investor decision-making, alongside broader co-operation in financial and non-banking services, insurance, financial technology, actuarial science and carbon markets.
Highlighting the importance of digital transformation, he welcomed progress towards an Arab framework for the responsible use of artificial intelligence and data, while emphasising investment in human capabilities.
Farid furthetr reaffirmed Egypt’s commitment to developing a comprehensive Arab vision for economic, social and financial development and pursuing practical solutions to shared challenges.
