Arab Common Market


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Related to Arab Common Market: Arab Maghreb Union

Arab Common Market

A proposed market allowing the free movement of goods, services, labor, and capital between all Arab countries. The Arab Common Market began with a proposal to create a customs union in 2007; it is intended to be in place by 2020. See also: MEFTA.
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Zineldin believes the creation of an Arab Common Market is "a most pressing imperative," which can "provide an effective counter to European, Asian, or American designs," for the region's future in the global economy.
WITH Gaza still smoldering, bodies still being pulled out of the rubble, Israeli troops still there and the cease-fire far from certain, many in the Arab world and beyond can be forgiven if they have initial difficulties understanding why Arab leaders are meeting at present in Kuwait to discuss economic issues and wonder whether this is the moment to discuss plans for an Arab free-trade area by 2015 and an Arab common market by 2020.
The summit decided to establish the customs union by 2015 as a prelude to establishing an Arab common market in 2020.
There are many opportunities for the private sector to play a role in socioeconomic development, particularly since joint Arab economic action is geared in this direction with the creation of the Greater Arab Free Trade Area (GAFTA), which could form a stepping-stone toward the creation of the Arab Common Market.
activities to galvanize the Arab Common Market into action.
including the issue of establishing an Arab common market, to be scrutinized
Arab Customs Union leading to the Arab common market in 2010," Hamed added.
ultimate goal of establishing the Arab common market by 2010," he added.

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