Latest news with #intra-Arab
El Chorouk
17-05-2025
- Business
- El Chorouk
President Tebboune Defends Solidarity with Wounded Arab Countries
President Abdelmadjid Tebboune said on Saturday that sustainable development in the Arab region must be based on the principle of solidarity with sister Arab countries suffering from crises and wars. Tebboune highlighted Algeria's commitment to actively participating in various initiatives to strengthen Arab cooperation, embodying economic integration. In a speech delivered on his behalf by the Minister of Foreign Affairs, National Community Abroad, and African Affairs, Ahmed Attaf, during the fifth session of the Arab Economic and Social Development Summit, held in Baghdad, President Tebboune said: 'Discussions about sustainable development in the Arab region must be based on the principle of solidarity with the wounded countries of our nation, starting with occupied Palestine and extending to the rest of the sister Arab countries suffering from the scourges of crises, conflicts, and wars.' He explained that 'the security and prosperity of our Arab region will only be achieved through the recovery of these countries, the elimination of the injustice and oppression imposed upon them, and their return to the path of stability, growth, and prosperity.' He reiterated Algeria's commitment to contributing to Arab economic integration. He also stressed that 'achieving Arab economic integration must not remain a deferred dream passed down from generation to generation. Despite the growth achieved in recent years, intra-Arab trade still does not exceed 8% of the total trade of Arab countries with the rest of the world. The same applies to inter-Arab investments, which also experience unfair disparities from one Arab country to another, with their low figures.' The President of the Algerian Republic emphasised that the fundamental components for achieving Arab economic integration include 'the full implementation of the Arab Free Trade Area, the development of inter-Arab transport networks, and the creation of banking, financial, and insurance mechanisms.' He considered that the goals of economic construction and sustainable development are 'closely linked to the requirements of Arab national security and to our responsibility to enhance the capabilities of Arab peoples, with both current and future generations.' In a related context, he asserted that 'Algeria is keen to be an active player in various economic initiatives aimed at strengthening rapprochement and cooperation among Arab countries,' pointing to its accession to the Arab Free Trade Area in 2009, its contribution to building various Arab financing and investment institutions, and its support for land, sea, air, and even energy connectivity projects. The President Tebboune concluded, 'My country emphasises the need for all Arab countries not to fall behind in the revolutions currently taking place, particularly in the fields of renewable energy, digitisation, artificial intelligence, robotics, and nanotechnology.'
Jordan News
11-03-2025
- Business
- Jordan News
Jordan's Exports to the Arab Region Rise - Jordan News
Jordan's Exports to the Arab Region Rise Jordan's national exports to the Arab Free Trade Area saw significant growth in the past year, increasing by 15.9% (488 million dinars) to reach 3.564 billion dinars, compared to 3.076 billion dinars in 2023. اضافة اعلان Exports to the Arab Free Trade Area accounted for 42% of Jordan's total exports last year, up from 37% in 2023. Meanwhile, the Kingdom's imports from Arab countries increased by 8.2%, reaching 5.078 billion dinars, compared to 4.693 billion dinars in 2023. Key Drivers of Export Growth The President of the Jordan and Amman Chambers of Industry, Engineer Fathi Al-Jaghbir, stated that the increase in national exports to Arab countries was driven by rising demand in these markets for Jordanian products, which are known for their high competitiveness and quality. He highlighted that Jordan's efforts to expand exports to key neighboring markets, particularly Iraq and Saudi Arabia, played a crucial role in promoting Jordanian products across the Arab world. Exports to Iraq grew by 42.5%, reaching 905 million dinars, while exports to Saudi Arabia increased by 14.3%, totaling 1.1 billion dinars. Sectoral Growth in Exports According to Al-Jaghbir, the key sectors that witnessed export growth included: Engineering industries (cables and wires) Construction materials (building units and prefabricated structures) Food industries (processed foods, tea, and tobacco) Chemical industries, packaging, plastics, and furniture Among the top exported products were fertilizers and cleaning products, while petroleum products, plastics, pearls, and jewelry were among the leading imports to Jordan. Strategic Steps to Enhance Exports Al-Jaghbir emphasized the need for strategic measures to further boost Jordanian exports, including: Enhancing Arab economic integration by fully implementing the Arab Free Trade Agreement, eliminating trade barriers, and simplifying export procedures. Reducing production costs, particularly by supplying industrial zones with natural gas to lower energy expenses and increase competitiveness. Expanding export opportunities by targeting underutilized markets, with potential exports exceeding $2 billion to countries such as: Saudi Arabia: $650 million UAE: $270 million Kuwait: $136 million Qatar: $135 million Egypt: $120 million Call for Stronger Arab Trade Cooperation Al-Jaghbir stressed the urgent need for stronger Arab trade cooperation, noting that intra-Arab trade accounts for only 12% of the region's total foreign trade. He urged Arab countries to: Remove trade restrictions Facilitate labor movement and investments Improve logistics and commercial shipping Jordan's Economic Stability and Export Potential Assistant Secretary-General of the Union of Arab Businessmen, Tareq Hijazi, highlighted that Jordan's free trade agreements and geopolitical stability position it as a gateway for trade and investment in the region. He pointed out that increasing demand for Jordanian products in Arab markets is driven by: Economic growth in some Arab countries Recovery from past economic crises High-quality Jordanian products that meet regional standards Key Recommendations for Sustainable Export Growth Economic expert Dr. Adli Qandah outlined several strategies to sustain Jordan's export growth: Diversify export products by expanding into technology and high-value services Improve quality standards to build consumer trust Upgrade logistics infrastructure (ports, roads, storage facilities) Encourage foreign investment in export-driven industries Leverage e-commerce and digital marketing to access new markets Reduce production costs through government support for energy prices and easier access to financing Enhance customs efficiency to streamline trade with Arab partners Conclusion With the right policies and investments, Jordan has the potential to achieve sustained export growth, strengthen its position in Arab markets, and contribute to broader regional economic integration. (Petra News Agency)
