2/20/2010
Arab officials hail Kuwait-proposed fund, call for boosting Arab-Euro
DAMASCUS, Feb 20 (KUNA) -- Some Arab and European officials and experts asserted here Saturday the significance of the fund of subsidizing small and medium-sized enterprises that was set up during the Kuwait Arab economic summit at an initiative of H.H. the Amir of Kuwait.
This USD 2-billion fund was set up at an initiative of H.H. the Amir of Kuwait Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah during the Kuwait Arab economic summit.
The officials have called during the 1st Arab-European cooperation conference on boosting small and medium-sized enterprises that kicked off here today with the participation of more than 400 Arab and European high-profile figures for the necessary stimulating of Arab-European industrial investment in the sector of small and medium-sized enterprises.
They also called for making optimal use of the funds set up by the countries of the two regions for qualifying and developing small and medium-sized enterprises and galvanizing their competitiveness.
Syrian minister of Labor and Social Affairs and Labor Dayala Al-Haj Arif stressed in an address delivered on behalf on the Syrian Prime Minister Muhammed Naji Otri the significance of holding this conference as it comes following the latest developments seen in the recent years, especially the past two couple of years. The Syrian minister made this remark in a reference to the global financial and economic crisis that made this conference the primary concern of officials for creating favorable atmosphere of investments.
She said that these small and medium-sized enterprises represent a main solution to a straitened crisis that did away with many achievements made in the developed countries and some ambitious developments that took place in the developing countries.
She added that the Arab world needs some action plans that explain the trajectory of its economic development and find a solution to its economic problems that are usually exported to it from abroad just as its need for political contacts and efforts.
The Syrian minister called on the conference to set mechanisms that associate the Arab industry, creativity and pioneering thought in the world of globalism with the methods of facing the economic crisis through promoting investment and making use of Euro-Med policies and investment, the joint Arab European cooperation and more specifically the European investment bank in galvanizing the competitiveness of small and medium-sized enterprises.
As for the director of Europe and Arab cooperation department at the Arab League and the envoy of the Arab League Secretary General amb. Faris Abdul Karim, he asserted that Arab countries are keen on developing their relations with all global blocs, including the European Union in particular in what serves best the higher Arab interests and the joint Arab action.
On his part, head of the Syrian businesses and institutions department Raten Al-Shalah said that this fund which was established during the Kuwait Arab economic summit gains great importance in the field of subsidizing small and medium-sized enterprises in the Arab region in what ensures the promotion of the Arab competitiveness to keep up with its counterparts in various world regions.
Finally, director general of the Arab Industrial Development and Mining Organization Muhammed bin Youssef said that the Arab countries took some steps toward drawing up special programs for developing small and medium-sized enterprises out of their firm belief in the significance of such kind of projects. (end).
