Arab League conference on economic impact of the Arab Spring

The Arab League has announced that it is to hold a conference this month to discuss the economic impact of the Arab Spring. The Secretary-General of the League’s Council of Economic Unity said that the conference will provide an opportunity for university researchers to participate more widely in the discussions and present their research papers.

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According to the CEU, “The revolutions of the Arab Spring have raised many extremely important issues, not least the need to adopt major developmental projects which respond to the needs of the Arab peoples, creating employment opportunities for young people.” There is also a need to review Arab-Arab cooperation in order to meet the aspirations of the societies across the region, it added, suggesting that an Arab Bank for Investment and Development be established to support such projects.

A memo issued by the CEU pointed out that many Arab-owned development funds from Kuwait, Abu Dhabi and other countries are ready to contribute to the establishment of the new bank to cover the needs of the Arab world and to act as the mechanism for investment and developments in Arab countries.