Countries of the Middle East should seek economic integration for catching up with progress posted in advanced nations, according to a visiting international expert.
Mustafa Ruwais, an economic expert at the World Bank, said at a seminar held at the Economic Society among the first steps that must be taken by the regional countries is resolving issue of unemployment.
Several other moves should be taken by the regional states, namely the Arab countries, such as liberlization of Arab-Arab trade, cutting custom tariffs and privatizing some utility sectors.
Increasing participation of foreign investors in national ventures and lifting restrictions on capitals' transfer are other remedies for the existing regional economic crisis, where the problem of joblessness ranks top in the world.
Ruwais also called for simplifying government procedures, stabilizing national currencies vis a vis the hard currencies and enforcing easier laws on foreign labor