Arab-African Economic Conference Suggests Free Trade Area

Participants in the Arab-African Economic Conference called for the creation of a free trade area between Arab and African countries, reported Aleqtsad.

Moreover, they called for improving cross-border trade between these nations by enhancing the procedures for the entry and exit of goods.

Organized by Moroccan Chambers of Commerce and Industry in cooperation with the Union of Arab Chambers and the Union of African Chambers, the two-day conference concluded in Morocco.

Moreover, during the conference, they requested to remove customs barriers. These barriers limit the strengthening of trade relations and the development of investment activities.

The recommendations also included the necessity for Arab and African chambers to take practical steps to promote economic developments and the favorable investment environment in their countries. This involves increasing the exchange of trade delegations to stay informed about the latest developments on investment opportunities.

Saudi-African Summit

At the gracious invitation of King Salman bin Abdulaziz, the Saudi-African Summit was held on Friday, in Riyadh. This historic summit marks a significant turn in Africa’s ties with Saudi Arabia.

The summit’s political agenda focused on developments in Palestine and the humanitarian crisis in Gaza. Leaders emphasized the need to halt military operations in the occupied Palestinian territories. They called for protecting civilians, and pressure Israel to stop attacks and forced displacement in Gaza.

Moreover, economically, leaders discussed deepening historical ties, with Saudi Arabia. It has provided over $45 billion in developmental support to 46 African countries over 50 years. Therefore, they applauded the $45 billion trade volume in 2022 and stressed enhancing trade and economic cooperation, including in sectors like industry, mining, and non-oil exports.

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