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5 Oct 2011

ESCWA Technical Committee on Trade Liberalization Meets in Beirut

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Under the patronage of Lebanese Minister of Economy and Trade Nicholas Nahhas, the Technical Committee on Liberalization of Foreign Trade, Economic Globalization and Financing for Development in the Countries of the ESCWA Region opened today its seventh session. Statements at the opening session were delivered by Acting Director General of the Ministry of Economy and Trade in Lebanon Fouad Fleifel, representing Nahhas, the Director of ESCWA’s Economic Development and Globalization Division Adballah Dardai and president of the session Ahmad Al Douchari of Kingdom of Saudi Arabia. Fleifel said Lebanon, considering its comparative advantage in providing various services, attaches special significance to trade liberalization within the framework of economic policies adopted for this purpose and integration into global economy. “Progress achieved in palpable strides at the regional level, including ongoing negotiations in Beirut among Arab countries to liberalize their trade in services, and successes made in this regard, contribute in pushing forward trade negotiations at the World Trade Organization level,” he added. Fleifel noted that Lebanon is following up on negotiations among Arab countries on liberalization of trade in services since their inception, especially since it was Lebanon that proposed them to the 2002 Arab summit in Beirut and in light of its active role in setting the convention’s framework agreement. For his part, Dardari said ESCWA is currently developing a proposal for a study of the current macroeconomic situation in the Arab region, including gross product of goods and services, job opportunities, flow of investments, and status of markets. The study, he said, provides a fact-based analytical tool in light of ongoing Arab movements and in support of socioeconomic policies for the next stages. He pointed out the Commission’s key role in the issue of financing for development, including the follow-up on implementing recommendations of the international conference held in Doha from 29 November to 2 December 2008. “ESCWA will focus in the coming phase on supporting countries in developing financial and monetary policies and institutions in line with the inclinations towards a macro economy favoring the poor and equitable distribution,” he concluded. Al Douchari noted that trade and financing for development are among the important sectors for progress in Arab countries. The promotion and strengthening of inter-Arab trade, he added, are a major challenge for all countries of the region that must review their trade policies and strategies and must conduct a comprehensive evaluation of other sectors, especially services. “The Kingdom of Saudi Arabia, with its significant geographical location, is always seeking to improve its trade through measures that help removing all non-tariff barriers,” he stated. The session aims to provide a forum for discussions on developments relating to the Doha Development Round negotiations since the Doha Development Agenda’s adoption in 2001. It also aims at discussing issues relevant to financing for development, progress in implementing the Monterrey Consensus and the main issues emerging in the way of financing for development; and engaging member countries in identifying priorities for ESCWA’s proposed work program for the liberalization of foreign trade, economic globalization and financing for development under its 2012-2013 strategic framework.
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