بيانات صحفية

20 تشرين الثاني/نوفمبر 2014

Beirut

ESCWA and DEC Partner to Discuss Macroeconomic, Sector Policies Coordination and Arab Economic Integration

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In partnership with the Dubai Economic Council (DEC), the Economic and Social Commission for Western Asia (ESCWA) is organizing an expert group meeting on “Macroeconomic and Sector Policies Coordination and Arab Economic Integration” on 23-24 November 2014, at the Marriott Hotel Al Jaddaf, Dubai, the United Arab Emirates. The meeting, which opens at 9:00 on Sunday, the 23rd of November, is intended to tackle issues related to macroeconomic convergence and the harmonization of sector policies in order to promote intra-Arab trade as well as international competitiveness and economic transformation. Sector policies’ coordination should complement other regional integration measures, including infrastructure reform and the convergence of a set of macroeconomic fundamentals among Arab countries involved in the Pan-Arab Free Trade Agreement in order to reach the desired results. The meeting will discuss the performance and progress made so far in terms of monetary and fiscal policies convergence on one hand, and sector policies’ coordination on the other, in order to single out some policy actions which could be taken in order to foster economic integration and growth among member countries. During the meeting, ESCWA will present the following three studies: Convergence and Economic Coordination in the Arab Region; Sector Policies Harmonization in the Arab Region and the implication on Regional Integration; and a System of Indexes to Assess Arab Economic Integration, followed by presentations by various experts on Arab and African regional integration experiences and country specific experiences. Experts will tackle the topics of the meeting to validate ESCWA’s papers and to make recommendations for the Arab region going forward. It is noteworthy to mention that one of the main weaknesses of the regional integration process in the Arab world is the relatively poor macroeconomic policies convergence and sector policies harmonization among member countries. Further to trade liberalization, efficient trade facilitation, and developed productive capacities, macroeconomic policies’ convergence and sector policies harmonization represent the key determinants of the success of any regional integration process such as the establishment of a customs union or even the Euro-med Partnership. The phenomenon of regional integration has gathered momentum to the extent that there is a proliferation of economic cooperation and integration agreements around the world. The reasons for this development are apparent. First, economic integration is seen as the faster, all-encompassing, and least-costly instrument to achieve rapid economic development. In addition to accelerating growth, Arab countries need to promote broad-based growth in order to foster employment creation, poverty reduction and social development and ensure that the current growth momentum can be improved or/and accelerated in the future. Accelerating broad-based and pro-poor growth requires not only effective national strategies but also the harmonization of regional policies and, more specifically, the convergence of regional sector policies to promote intra-Arab trade as well as international competitiveness and economic transformation. Sector policies’ convergence should complement other regional integration measures, including infrastructure and macroeconomic convergence. ESCWA is one of the five UN regional commissions. It provides a framework for the formulation and harmonization of sectoral policies for member countries; a platform for congress and coordination; a home for expertise and knowledge, and an information observatory. ESCWA aims at supporting economic and social cooperation between the region’s countries and promoting development process in order to achieve regional integration. Libya, the Kingdom of Morocco and the Republic of Tunisia became members of ESCWA in September 2012. By this new membership, the number of ESCWA countries rose to 17, including: Bahrain, Egypt, Iraq, Jordan, Kuwait, Lebanon, Oman, Palestine, Qatar, Saudi Arabia, The Sudan, The Syrian Arab Republic, The United Arab Emirates and Yemen. * *** * For your queries, kindly contact: ESCWA Communication and Information Unit (ECIU) on either of the following numbers: +961-70-993 144, +961-03-910 930, +961-76-04 64 02. Please direct your emails to: escwa-ciu@un.org
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