Saudi Press

Saudi Arabia and the world
Sunday, May 11, 2025

Economic integration is key for Arab nations and trade and investment can boost it, conference hears

High-level representatives of Islamic Development Bank Group member countries, and other regional and international experts gathered in Jeddah on May 10 for the 48th Annual Meetings of the group, which included the launch of its Integration Report for Arab Countries.

In his keynote speech, the chairman of the group, Mohammed Al-Jasser, said it is working to overcome the obstacles to economic integration and capitalize on available opportunities at the regional and international levels, while helping to improve revenues across the Arab world and increase the region’s contributions to the global economy.

Trade and investment are two vital areas through which the group aims to support member countries, by effectively implementing regional agreements, he added.

The discussions revolved around the contents of the group’s latest Integration Report, which includes information about the extent of economic integration in the Arab world in a number of sectors, including trade and investment, the financial markets, IT connectivity, and logistics.

Abdul Hakim Elwaer, assistant director-general of the UN’s Food and Agriculture Organization, said that economic integration can help improve food security in the Arab region. There are a number of challenges to achieving this, he added, some of which are political and some social or environmental.

Abdul Hakim Elwaer, assistant director-general of the UN’s Food and Agriculture Organization.


“The Arab region is the most arid region in the world and with the increasing effects of climate change, coupled with scarcity of water resources, urban encroachment and overpopulation, the situation will not improve in the future but rather it will worsen and the region will have to face several challenges,” Elwaer said.

It is important to create more opportunities for economic integration in the Arab world, and river basin countries in particular, as they are better placed to supply food and water resources to countries that need them, he added.

Sami Al-Suwailem, acting director-general of the Islamic Development Bank Group Institute and its chief economist, said that economic and trade integration play a major role in building stable economies and boosting the wealth of countries.

Sami Al-Suwailem, acting director-general of the Islamic Development Bank Group Institute and its chief economist.


“It is important to focus more on efficiency and productivity to achieve economic integration, and on sharing best practices among the member countries through South-South Cooperation,” he said.

Bahgat Abu El-Nasr, director of the Arab League’s Arab Economic Integration Department, talked about the role of trade in regional economic integration, including the need for the political will to develop trade relationships, and highlighted the implementation of major regional integration initiatives, including the Greater Arab Free Trade Area and the Arab Customs Union.

Lilia Hachem Naas, chief officer for the Middle East and North Africa at the International Trade Centre in Geneva, discussed the effects that economic integration can have in increasing productivity in the Arab world. She said trade is a key tool for strengthening regional integration and can act as a driver for the creation of job opportunities.

Lilia Hachem Naas, chief officer for the Middle East and North Africa at the International Trade Centre in Geneva.


“To overcome this obstacle of regional integration, a mechanism for transparency should be established between the public and the private sectors,” Naas added.

Newsletter

Related Articles

Saudi Press
0:00
0:00
Close
Cardinal Robert Prevost Elected as Pope Leo XIV, Marking a Historic Papacy
India-Pakistan conflict may be first test for Chinese military tech
Bill Gates Announces Plan to Wind Down Philanthropic Foundation and Disperse Wealth
Common Sense Returns to Britain's Legal System: UK Supreme Court Declares a Woman Is… a Woman
Warren Buffett to Step Down as Berkshire CEO After Nearly 60 Years
Trump Shares AI-Generated Image of Himself as… Pope, Prompting Outrage Reaction
Amazon Launches Satellite Internet Service Amidst Competition with SpaceX
The Rush to the White Gold: Global Investment Surge in Natural Hydrogen Exploration
Trump Administration Removes National Security Adviser Mike Waltz Amid Signal Chat Controversy
Liverpool Clinches Record-Equalling 20th English League Title Under Arne Slot
Massive Explosion at Iran's Bandar Abbas Port Linked to Suspicious Chemical Shipments
Pope Francis Laid to Rest in Rome as World Leaders Attend Funeral
Not Child’s Play: How Competitive Gaming Became a Global Economic Empire
California Surpasses Japan to Become the World’s Fourth-Largest Economy
Former U.S. Congressman George Santos sentenced to eighty-seven months for wide-ranging fraud
Israel Considers Limited Strikes on Iran's Nuclear Facilities Amid Diplomatic Efforts
Saudi Arabia Offers Max Verstappen Unprecedented Deal to Join Aston Martin
Global Pistachio Shortage Amid Rising Demand for 'Dubai Chocolate'
IMF Predicts No Global Recession Amid Trade Tensions
Worldwide Markets Decline as U.S.-China Trade Frictions Intensify
OpenAI Lands Unprecedented $40 Billion Investment
Removing the Political Adversary is Dismantling What's Remaining of Turkey's Economy.
Ex-FIFA President and French Football Icon Acquitted of Corruption Allegations
White House Investigates Security Breach After Journalist Accidentally Added to Secret Yemen Strike Chat
Volunteers in Jeddah Ensure No One Goes Hungry During Ramadan Iftar
New Restaurant Opens in Makkah's Iconic Clock Tower for Ramadan Iftar
Saudi Arabia's Project Masam Removes 552 Houthi Mines in Yemen
Saudi Arabia Fines Over 400 Foreign Trucks for Regulatory Violations
Saudi National Campaign for Charitable Work Reports Significant Donations in Ramadan
Historic Al-Hosn Al-Asfal Mosque Restored in Asir as Part of National Heritage Initiative
KSrelief Expands Humanitarian Efforts in Syria, Sudan, and Lebanon
Saudi Arabia Advocates for Global Water Cooperation at Forum
Madinah Governor Tours Islamic Arts Biennale in Jeddah
Saudi Foreign Minister in Cairo to Lead Meeting on Gaza Developments
Recognition of Saudi and Pakistani Entrepreneurs at Riyadh Ceremony
UAE Announces $1.4 Trillion Investment Plan in the United States
Saudi Arabia Innovates in Soil Quality and Water Conservation
Governor of Taif Engages with Rose and Aromatic Plants Cooperative
Saudi Food and Drug Authority Enhances Preparations for Hajj Season
Saudi Arabia Distributes Aid to Yemen and Romania
Restoration of Historic Al-Qalaah Mosque in Riyadh Underlines Heritage Preservation Efforts
Saudi Arabia Arrests Over 25,000 for Immigration Violations in One Week
UAE’s ADQ and Energy Capital Partners Announce $25 Billion Energy Venture in the U.S.
KSrelief Launches Extensive Ramadan Food Aid Initiative
Ramadan Celebrations Revitalize Historic Jeddah
Makkah Authorities Urge Worshippers to Follow Crowd Management Guidelines
Direct Flights Between Dammam and Damascus Reestablished for Syrian Residents
Saudi Main Index Rises to Close at 11,760 Amid Mixed Market Performance
Moroccan Prime Minister Aziz Akhannouch Visits Prophet's Mosque in Madinah
Cultural Development Fund Hosts Third Annual Storytellers Event in Riyadh
×