Page 647 - MOE ENGLISH PR REPORT - FEBRUARY 2024

CAIRO, 15th February, 2024 (WAM) -- Abdullah bin Touq Al Marri, Minister

of Economy, led the UAE delegation at the 113th Arab Economic and Social

Council meeting held at the General Secretariat of the Arab League in Cairo,
chaired by the Hashemite Kingdom of Jordan and attended by delegations from

member states.

The meeting discussed strengthening of Arab cooperation on various economic
and social issues and ways to operationalise the executive decisions approved

by the Council during its previous meetings.

The Minister of Economy emphasised that the UAE, under the guidance of its
wise leadership, is keen to support joint Arab efforts, develop mechanisms and

action plans that will open up new prospects to support sustainable economic
development, as well as strengthen cooperation with other Council member
states in the sectors of the new economy, tourism, digital transformation,

entrepreneurship, and SMEs.

Bin Touq pointed out that Arab economies have proven their ability to confront
political, climatic and health changes over the past few years, and the importance

of their geographical location is that it facilitates the global trade movement.
According to the International Monetary Fund (IMF), the Arab countries’ GDP
growth rate reached 1.8 percent in 2023, or nearly US$3.4 trillion, and it is

expected to reach US$3.5 trillion in 2024 despite the economic challenges
witnessed by the region during the last stage.

Bin Touq said, "The latest Council meeting is an important step forward in driving

consultation and discussions on vital economic files that will enhance the
competitiveness of Arab economies and support their growth and prosperity. The

topics under discussion are of great importance in advancing Arab cooperation
and charting a roadmap for the region’s further development and leadership."

Additionally, Bin Touq reviewed a range of topics on the Council's agenda, which
will enhance prospects for economic cooperation among the Arab states. These

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