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Mr. Bahgat Abu-Nasr, Director of the Department of Economic Integration at the League of Arab States, announced that the meeting would discuss, within three days, a number of topics related to trade facilitation, in particular the first draft legal annex on trade facilitation in the free trade area.
Mr. Bahjat Abul-Nasr said in a statement that the committee had been set up to prepare this legal annex on trade facilitation in the framework of the free-trade area, noting that the issue of trade facilitation had come to the fore. The WTO since its inception in 1994, This agreement was signed in 2002 and has been developed more than once.
He stressed that all regional groups had an annex on trade facilitation, but that Arab countries members of the Arab Free Trade Area did not have this annex on trade facilitation.
He explained that since the main objective of the FTA was to facilitate trade, it was necessary for member countries to develop a special annex to facilitate trade within the free trade area.
He added that trade facilitation is one of the topics that has attracted attention in recent years as it has an impact on reducing the costs of current transactions, which are the most important obstacles to the flow of trade. , which appear more in developing countries that are less able to support the additional costs.
The legal annex on trade facilitation contains a number of articles that reflect the willingness of Arab countries to strengthen economic cooperation, liberalize intra-Arab trade and develop it within the Arab region by speeding up the flow of trade. , release and clearance of goods, including goods in transit. Increase trade between Arab countries.
The commission is to submit the supplement to the Economic and Social Council meeting in November to consider its adoption.
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