AEF, opportunity to discuss economies in light of events
Kuwait - KUNA
The Arab Economic Forum (AEF) represents an ideal opportunity to review the current developments on the backdrop of political shifts in the region, the Kuwait Direct Investment Promotion Authority chief said on Thursday.
While attending the Arab Economic Forum in Beirut, KDIF Director-General Sheikh Meshaal Jaber Al-Ahmad Al-Sabah commended the large turnout of Kuwaiti investors, which he said was due to their firm "belief in the importance" of the event.
"These meetings allow Arab nations to benefit from each others' expertise - this is why they are important in supporting the development and growth of their economies," he told KUNA.
The Arab region has gone through many significant changes and political shifts, whereby the economic side has been neglected. An event of this magnitude does much in aiming to provide better livelihoods for its people, he said.
Revealing comments he had made at the forum, Sheikh Meshaal said that he had focused on the business climate in Kuwait, and had showcased the latest economic developments and positive future outlook.
For his part, former Kuwaiti finance minister Bader Al-Humaidhi noted the significance of the event during the current "delicate circumstances" the Arab world is going through and the repercussions on their economies as a result.
Some of these nations have been able to overcome these circumstances - like Egypt and Tunisia - however, they have not been able to return to their former glory and still face high unemployment rates, he said.
Others continue to witness a huge deficiency in their economic structures - like Iraq, Libya, Syria and Yemen - while Gulf Cooperation Council nations have been able to retain their stable economies thanks to high oil prices.
On Lebanon, he said its economy has been much affected over past years as a result of the affairs of its neighbours, Syria, expressing the view that, despite this, there a "good signs." The forum aims to discuss the region's economy in the midst of turbulent political shifts, and how the economy has fared four years after the commencement of the Arab Spring revolutions.