Page 653 - MOE ENGLISH PR REPORT - FEBRUARY 2024

2/22/24, 3:43 PM UAE participates in 113th Arab Economic and Social Council meeting in Cairo - www.lokmattimes.com
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.

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