Arab ministers agree on investment draft

Arab foreign ministers have finalized a draft agreement on inter-Arab investments to be presented at the third Arab Economic Summit scheduled to open today in Riyadh, said Minister of Finance Ibrahim Al-Assaf.

In press statements, the minister said the agreement, if approved, would allow the free flow of Arab capital and investments in member countries. It will take into account legislation and systems regulating economic activities and protection of the environment.

He said some Arab countries have expressed reservations about some items of the draft agreement but leaders of the summit would make the final decisions in this regard.

Referring to the agenda of the meeting, the minister said it will include a number of topics, notably follow-up of the Kuwait 2009 and Sharm El-Sheikh 2011 economic summits which were primarily concerned with infrastructure projects such as electricity, railways, water and inter-Arab trade barriers.

The summit will also tackle other issues such as renewable energy projects, inter-Arab investments, and how to deal with infectious diseases.