Riyadh — Reinforcing the private sector's role as a partner of the global economic development in Arab countries is one of the main recommendations issued from the 3rd Arab Economic, Social and Development Summit organised January 21-22 in Riyadh.
The emphasis was laid on the need to guarantee a climate propitious to investment, reinforce means of the Arab co-operation institutions and consolidate capitals of the Arab joint companies so that they could participate in funding productive projects.
Recommendations stressed the need to encourage joint investments and identify new jobs opportunities, to help reduce unemployment and poverty pockets in Arab countries.
In another connection, the recommendations focus on intensifying trade exchange, enforcing the Arab Customs Union and formation of an economic grouping in line with finishing off a free market by the end of 2013.
The Summit advocates help to achieve the Millennium Development Goals, support the least developed Arab countries and endeavour to reduce the negative impact of regional crises.
It also lays emphasis on the need to achieve food security, guarantee welfare to persons and communities and improve health care services.