Jordan Times
Friday, May 13, 2005
Business seen as key for
Arab integration
Nuqul suggested opening borders for workers and coordinating
efforts and policies between Arab countries
By Rami Abdelrahman
AMMAN — Economic integration between Arab countries has become a necessity if
Arabs are serious about solving current and potential economic problems, Ghassan
Nuqul said Thursday.
Nuqul, vice chairman of Nuqul Group, was summing up the thrust of an upcoming
World Economic Forum (WEF) session on the “Vision 2010: Middle East in the
Global Economy.”
The prominent Jordanian businessmen said Arab countries cannot work solo any
more:
“Arabs will have to create at least 50 million jobs for 146 million who will be
seeking jobs by 2010,” he pointed out.
To address such types of problems, Nuqul suggested opening borders for workers
and coordinating efforts and policies between Arab countries.
“It is not only unemployment that is worrisome, but also increasing global
competition, heavy debt burdens, weak education outcomes, weak corporate
governance and weak Arab-Arab trade exchange,” he indicated, stressing that
political instability in the region is a problem that could be sidelined if
Arabs want to do business.
During a roundtable session with media representatives, Nuqul emphasised that
economic reform driven by a serious political will and real partnership between
the public and private sectors is the only option Arab countries have, if they
want to integrate in the global economy.
He said that the WEF session will bring Arab decision makers and intellectuals
to address the issue of Arab economic integration.
“The economic map of the world consists of economic blocs such as the European
Union, North American Free Trade Area, the Association of Southeast Asian
Nations,” he indicated, recommending that Arabs reinvigorate pan-Arab agreements
in order to create an active Arab economic bloc.
He noted that the percentage of Arab-Arab trade exchange has only reached five
per cent, in comparison with 95 per cent of exchange with non-Arab nations,
whereas obstacles to Arab-Arab trade exchange are 30 per cent more than those
between any other country in any other bloc.
“Sadly, most of these are not even related to customs,” he remarked.
Nuqul said the solutions are basically found in Business 101 textbooks: Arab
public and private sectors need to collectively plan, organise, execute,
monitor, review, evaluate and be held responsible for the outcomes.
Nuqul is a member of about 30 committees, associations and boards, including the
National Agenda Committee and His Majesty King Abdullah's Economic Advisory
Council.
He said the National Agenda will provide a flexible model for reforms, drafted
and implemented collectively and equally by the public and private sectors.