The Arab League's General Secretariat is working to increase the share of intra-Arab trade in the total foreign trade of Arab countries to 25% by 2030, up from around 14% in recent years. This goal was announced by Ahmed Nizar Jamil, director of the Arab Economic Integration Department at the Arab League's General Secretariat. The efforts focus on ensuring better integration of the private sector in the region, which is a crucial driver of the economy.
A workshop was held in Tunisia to discuss the benefits of the Greater Arab Free Trade Area (GAFTA) for small and medium-sized enterprises (SMEs). The event aimed to promote the advantages offered by GAFTA and explore ways for Tunisian SMEs to benefit from them. The workshop was attended by officials from the Tunisian Ministry of Trade and Export Development, as well as representatives from the Arab League.
Jamal Al Ila, director general of Economic and Commercial Cooperation at the Tunisian Ministry of Trade and Export Development, stated that the workshop provided an opportunity to discuss the main axes of the Arab Agreement on GAFTA and the preferential advantages it offers. The meeting also examined ways to overcome difficulties hindering access to Arab markets.
GAFTA is an Arab League pact that aims to create a free trade area and a market of over 300 million consumers. The agreement seeks to promote economic integration and cooperation among Arab countries. Tunisia is hosting a series of workshops from September 21 to 25 to discuss the benefits of GAFTA with the private sector and explore ways for SMEs to capitalize on these advantages.
The Arab League's General Secretariat is currently working on a project to establish a specific framework facilitating the integration of the private sector as a central actor in GAFTA. This project aims to promote the participation of SMEs in the free trade area and enhance their competitiveness in the Arab market.
The workshop in Tunisia is part of a broader effort to promote GAFTA and its benefits for SMEs. The agreement offers preferential tariffs and trade facilitation measures to encourage economic integration and cooperation among Arab countries. By increasing trade and investment, GAFTA aims to boost economic growth and development in the region.
The success of GAFTA depends on the active participation of SMEs, which are a crucial driver of economic growth and job creation in Arab countries. By providing SMEs with the tools and resources they need to compete in the Arab market, GAFTA can help promote economic development and integration in the region.
Key points
- The Arab League aims to increase intra-Arab trade to 25% by 2030.
- GAFTA offers preferential tariffs and trade facilitation measures to encourage economic integration.
- SMEs are crucial for the success of GAFTA and economic growth in Arab countries.
