Addressing the third Arab economic summit, President Mohamed Morsi called on Monday 21/1/2013 for launching an Arab initiative to follow up negotiations on the issue of sustainable development.
"Egypt is looking forward to cooperation with the Arab countries not only to confront challenges facing the Arab nation, but also to exploit all available opportunities to serve best interests of all Arab peoples" Morsi said.
President Mohamed Morsi said that holding a series of economic and development summits reflect awareness of Arab countries of the importance of boosting cooperation in the various fields.
He hailed the outcome of the two previous summits, mainly an initiative by Kuwaiti Emir Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah over the necessary financial resources to support small and medium-size enterprises.
The president noted that the agenda of this summit takes up several economic and social issues that should be implemented and followed up.
Morsi stressed that this summit should draw up blueprints and economic policies to unify Arab efforts "in a manner that could lead Arab countries within an acceptable timeframe to attain more integration and cooperation."
"We should make use of all natural and human resources in Arab countries in order to set up the Arab Common Market," Morsi said.
"We should expedite our steps to pursue the pace of other regional blocs that achieve the economic integration, although their peoples are different in race, religion and language," Morsi added.
Morsi affirmed that the Arab countries face huge economic and social challenges in the upcoming period, including a way to deal with negative impacts of globalization along with the lack of scientific research.
"We should deal with such challenges through concerted efforts instead of being addressed separately," Morsi said.
He underlined the necessity to increase the quality of education and close links between the educational process and the work and production.
Morsi noted that the Arab countries are required to go ahead to set up an Arab monetary fund to face the economic challenges facing all Arab states.
He called for launching an Arab initiative to catch up with sustainable development efforts at the international level.
Morsi called for further cooperation among all Arab countries, saying "we cannot work separately; we shall work together for better future for all Arab countries."
He reiterated Egypt's keenness on preserving the security and stability of all Arab countries, asserting that Cairo would stand by them to ward off any threat or aggression.
"Egypt is now in need of its sisterly neighbors in the fields of investment and economy during the coming period," Morsi said.
He stressed that the Egyptian economy has strong potentials that could help achieve high growth rates over the coming years.
"Egypt is seeking now to reach an agreement with international financial institutions based on a national vision to support the Egyptian economy in order to provide a favorable investment climate," Morsi said.
He added that such climate could attract further investments into the country to serve best interests of the Egyptian people.
Morsi called on all Arab countries to provide the necessary financial support for the Palestinian government to meet the demands of its people.
He urged the donor countries and the international community to take serious steps to bring about an end to the suffering of the Palestinian people.
As for the Syrian crisis, Morsi called on all Arab and international states to stop the bloodshed of the Syrian people and put an end to the 22-month crisis.
Morsi reiterated rejection to the military intervention in Mali, saying that "such intervention may fuel the conflict in the region."
He demanded to stand by Algeria after a terror attack against a gas facility in the Algerian city of In Amenas
In a speech directed to Saudi Crown Prince, Deputy Premier and Defense Minister Salman bin Abdul-Aziz, Morsi said that "on behalf of Egypt, the chair of the second Arab economic summit, I am happy to invite Saudi Arabia to chair the third session of the summit."
He said, "I am sure that Saudi Arabia, under the leadership of Saudi King Abdullah bin Abdulaziz, will spare no effort to strengthen joint Arab action".