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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Also to be tackled were an Arab common market, a unified customs tariff system and ways to deal with the impact of the global financial crisis, which has so far cost Arab economies $2.
A growing number of government policy makers and private sector business leaders are calling for a renewed effort to create an Arab Common Market, to counter successful blocs such as the European Union, NAFTA, and ASEAN.
CAIRO, April 6 (KUNA) -- Some 14 Arab countries on Thursday signed a MoU for establishing an Arab common market for electricity.
The summit recommended as well the facilitation of Arab labor movement between Arab countries and the establishment of an Arab tariff zone before 2015 in addition to an Arab common market before the beginning of 2020," he added.
We do hope that the setting up of the GCC common market will speed up emergence of the Arab common market.
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.
CAIRO, Sept 9 (KUNA) -- The Arab Foreign Ministers have approved in their 146th session a MoU for establishing an Arab common market for electricity, a senior Arab League official said on Friday.
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.

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