Page 64 - MOE ENGLISH PR REPORT - SEPTEMBER 2024 (Part 1)

Press Release

H.E. said: “The meeting’s agenda included topics that offer valuable opportunities to enhance
cooperation among Arab countries in the next stage, both on economic and social fronts. This is
especially crucial as the focus is on boosting bilateral trade within the Arab region, which stands
as one of the major accomplishments of Arab cooperation. Moreover, it underscores the
significance of attracting investments to Arab economies, particularly considering the growing
influx of FDI to the region. Furthermore, it highlights the collaborative endeavours aimed at
enhancing the performance of specialised Arab organisations.”

Enhancing trade exchange among Arab countries

The meeting reviewed the progress made in the implementation of the Arab Customs Union, while
also emphasising the significance of the agreements and trade treaties established within the Arab
League, particularly the agreement on facilitating and developing inter-Arab trade. Furthermore,
there was a strong emphasis on bolstering regional trade of domestic products.

New strategies to boost investment in the region

The meeting discussed the significance of strengthening efforts aimed at executing the amended
Arab Investment Agreement, with the aim of fostering and encouraging investment exchanges
among Arab nations. It also highlighted the need to devise new and integrated strategies, embrace
flexible economic policies to increase FDI flows, establish a conducive environments for inventive
and innovative projects across different sectors, and promote entrepreneurship.

UAE’s proposal to promote a culture of reading and knowledge in the Arab region

The latest Arab Economic and Social Council meeting approved the proposal put forth by the UAE
regarding the signing of a joint memorandum of cooperation between the General Secretariat of
the League of Arab States and the ‘Arab Reading Challenge’ initiative, which is a part of
the Mohammed bin Rashid Al Maktoum Global Initiatives (MBRGI). The main objective of this
collaboration is to promote a culture of reading and knowledge across the Arab world. The Arab
Reading Challenge is the largest project in the region that encourages students to read, with more
than 28 million students from 50 countries within and outside of the Arab region committing to
reading 50 million books throughout the academic year. Additionally, the proposal also urges
relevant ministries in Arab countries to adopt the initiative as an educational approach. The meeting
welcomed this initiative and conveyed their gratitude and appreciation to MBRGI for their
dedicated efforts in promoting reading awareness in the region.

The Minister of Economy thanked the ministers and officials from other Arab nations participating
in the meeting for their endorsement of the Arab Reading Challenge Initiative. H.E. emphasised
that the approval of this proposal signifies the Arab countries' recognition of the UAE's endeavours
in advancing and fostering knowledge and the culture of reading among students in the Arab

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