We see the will for change and economic reform in the Arab world

Arab League Secretary-General Ahmed Aboul Gheit said the Arab world is suffering from economic problems related to competitiveness, business climate and jobs, but today we see the will to change and reform of many Arab governments and leaders, as well as the awareness of the need for fundamental changes in the administration of government. And economic efficiency.

This appeared during his speech at the Arab International Banking Summit held in Rome under the slogan "Mediterranean-Euro-Mediterranean Dialogues for a Better Economic Zone".

The reform, he added, also requires a direct confrontation with the problems inherent in the Arab economies for decades, which are not evaded, circumvented or resolved over time.

Abul-Gheit stressed that the first priority for Arab governments today is to raise employment rates, especially among young people, stressing that this implies creating an environment conducive to innovation, stimulate creativity and create opportunities for local and foreign investment, especially in emerging job-creating projects, as well as in small, medium and small businesses. .

He pointed out that the Mediterranean region represents a huge human population of 500 million people, which produces about 10% of world production.

"Across the Mediterranean, about 20% of global maritime trade goes, and it is a major region with enormous potential, success and prosperity, but this potential has not been exploited yet. its full potential, "he said. It is now. "

He added that today 's conference is a rare opportunity to talk about a genuine partnership between the Arab and European parties, especially at the banking level, and to set the stage for the future. exchange of experiences and best practices and lay the foundation for close and extensive cooperation in this important sector to achieve the objectives of both Arab and European sides.

He pointed out that the Arab region needed not only investment or financing, but also to acquire new expertise in financial instruments or what is called technology. financial and financial inclusion, among others.

He stressed that the European side needed to breathe new vitality into its economies after the financial and post-austerity crisis, stressing that the Arab market was promising its potential and was an ideal destination for European and Mediterranean countries, especially as a vast market. consumption, but especially as a destination for investment, partnership and employment Among emerging projects and growth sectors such as energy, information technology and traditional industries.