Kuwait Times

Published Date: January 01, 2009

DAMASCUS: The Arab Economic and Social Summit, to be hosted in Kuwait on January 10-20, comes at a critical time amid a global financial and monetary crisis and sensitive key items on the Arab integrated development agenda, a Syrian economists said yesterday.

Board Chairman of the Damascus bourse and Chairman of the Union of Syrian Trade Chambers Ratib Al-Shallah said the summit is an effort to opt for a better approach to the private sector, implement it and make it a partner in overall economic development.

The private sector should accordingly feature clearly in summit resolutions and take part in drafting these, he said.

The expert cautioned that it is unacceptable that the Arab world still lacks a clear view and assessment of the current financial crisis which is affecting it in all areas. The summit should take serious strides in correcting this situation, he remarked.

Meanwhile, MP and member of Damascus Trade Chamber Bahaeddine Hassan said that the items on the summit's agenda add to the significance of the event, and the leaders are inevitably to address the ghost of global recession and crisis as it is weighing down on all Arab economies.

As to Syria's own expectations, he said there is a wish to see measures to boost Arab trade exchange in order to reduce the effect of global crises and a wish that the leaders would give social and economic issues their due attention, regardless of politics, or at least to attempt discussion away from the overwhelming and direct reflection of political considerations. - KUNA