Morocco Calls for Strengthening Arab Economic Cooperation, Integration
Cairo - 09 February 2023- Morocco called, Thursday in Cairo, for more efforts to strengthen Arab economic cooperation and integration, in order to overcome the current economic and social challenges.
Speaking at the 111th session of the Economic and Social Council at the ministerial level, Morocco's Ambassador to Egypt and Permanent Representative to the League of Arab States, Ahmed Tazi, stressed the need to accelerate the pace of economic and trade integration projects and work towards achieving optimal convergence between legislative and technical systems, in order to reach higher levels of integration between Arab economies.
Despite initial expectations of a gradual recovery of the global economy in 2023, he noted, the repercussions of the Ukrainian crisis and the resulting sharp increases in food and energy prices have contributed to rising inflation rates to unprecedented levels, with continued disruptions in supply chains, exacerbating the economic and social challenges faced by Arab countries.
In this regard, Tazi recalled that the 110th session of the Economic and Social Council, chaired by Morocco, saw the adoption of several important decisions and mechanisms related to the Greater Arab Free Trade Area, the development of the customs union, maritime passenger transport of goods, Arab food security and the Arab strategy for aquaculture, among other projects that aim to strengthen complementarity and regional integration and contribute to the economic recovery and sustainable development of Arab countries.