Satyendra Pathak
Doha
Underscoring the importance of strengthening economic ties among Arab nations, the Qatar Chamber (QC) held the 135th Session of the Council of the Union of Arab Chambers in Doha on Sunday. The meeting was graced by the presence of the Minister of Commerce and Industry HE Sheikh Mohamed bin Hamad bin Qassem Al Thani along with key figures from various Arab chambers of commerce.
Prominent among the attendees were Qatar Chamber Chairman Sheikh Khalifa bin Jassim Al Thani, Ambassador Dr Ali bin Ibrahim Al-Malki, assistant secretary-general and head of the economic affairs sector of the League of Arab States, and Samir Abdulla Nass, the outgoing chairman of the Bahrain Chamber and President of the Union.
Samir Majoul, president of the Tunisian Union of Industry and Commerce, also attended as the new president of the Union, alongside heads of federations and chambers from various Arab countries.
In his opening remarks, Sheikh Mohamed emphasised the necessity of enhancing cooperation between the business sectors of the Arab world. He spoke about the vast potential of the Arab region, highlighting its abundant resources and diverse natural wealth. According to the minister, these assets position the Arab world favourably on the global economic map, enabling it to play a crucial role in international trade and investment.
"The Arab region enjoys enormous potential, abundant wealth, diverse natural resources, and advanced human capabilities,” Sheikh Mohamed remarked. He called for concerted efforts among Arab nations to capitalise on these resources to achieve economic integration, sustainable development, and poverty alleviation. The minister stressed that such endeavors could be realised through flexible economic policies that empower the private sector.
Sheikh Mohamed also pointed out the numerous investment opportunities available in various fields, emphasising the importance of Arab free zones and favorable economic laws. He indicated that these factors could significantly enhance intra-Arab trade and contribute to building a sustainable and diversified Arab economy.
The role of the Arab private sector in economic development was a central theme of the meeting. Sheikh Mohamed reiterated the importance of developing more flexible and effective economic policies that facilitate cooperation between chambers across Arab nations. He encouraged the private sector to take a leading role in implementing these policies, ensuring that economic integration is not merely theoretical but practically realised.
During his address, Sheikh Mohamed praised Qatar’s economic growth in recent years, attributing it to strategic plans aimed at creating an attractive business environment for investments. He cited major projects initiated ahead of the 2022 FIFA World Cup, which have accelerated Qatar’s economic diversification efforts and aligned with the Qatar National Vision 2030.
The minister further elaborated on Qatar’s Third National Development Strategy for 2024-2030, focusing on key sectors such as low-carbon minerals and renewable energy. He outlined that QR100 billion has been earmarked for investments in the local economy by 2030, with promising opportunities identified in sectors such as industry, logistics, information technology, digital services, finance, food, agriculture, health, and education.
Al Malki, representing the League of Arab States, echoed the importance of the Arab private sector as a fundamental pillar for economic and social development. He emphasised its capacity to drive sustainable development and foster mutual benefits among Arab nations. According to Al Malki, the private sector has the potential to contribute significantly to joint Arab projects that cater to the needs of civil society.
Al Malki called for continued cooperation between the League of Arab States and the Union to enhance investment initiatives that stimulate economic growth in the region. He stressed the need for innovative strategies that could respond to the challenges faced by Arab economies, fostering resilience and adaptability.
Addressing the strategic issues during the session, Sheikh Khalifa expressed confidence in the council’s ability to make informed decisions and take necessary actions concerning critical regional and international challenges affecting the Arab economy. Sheikh Khalifa thanked Sheikh Mohamed for inaugurating the meeting and acknowledged the contributions of Samir Abdulla Nass during his tenure as chairman of the Union.
He also congratulated Samir Majoul on assuming the presidency for the current session, expressing optimism that Majoul’s leadership would continue to drive achievements aligned with the union’s goals. Sheikh Khalifa expressed gratitude to the General Secretariat, led by Khaled Hanafi, for its ongoing efforts to enhance the Union’s activities both regionally and internationally. He praised the secretariat’s role in proposing strategic topics for the Council’s agenda, highlighting its significant contributions to the Arab economy.
The session did not shy away from addressing pressing global issues, with Sheikh Khalifa strongly condemning the recent violence in Gaza, the West Bank, and Lebanon. He expressed outrage over the brutal attacks carried out by the Israeli occupation and called for a united Arab response to these human rights violations. Sheikh Khalifa emphasised the need for the Arab private sector to take a stand against such injustices and to work collectively in advocating for peace and stability in the region.
The meeting included a formal transition of the Union’s presidency from Bahrain to Tunisia. Samir Abdulla Nass ceremoniously handed over leadership to Samir Majoul, who affirmed his commitment to furthering joint Arab economic action and enhancing the private sector’s role in both Arab and international contexts.
Samir Majoul highlighted the importance of achieving desired Arab economic integration, fostering collaboration among Arab chambers, and enhancing the role of the private sector in the economic landscape of the Arab world. He expressed his hope that the Union would continue to realize its objectives, working toward a more cohesive and prosperous Arab economy.
The session served as a vital platform for discussing key issues related to joint Arab action, including strategies for strengthening economic cooperation and increasing intra-Arab trade rates. The discussions underscored a shared commitment among Arab nations to work together in overcoming challenges and seizing opportunities for growth and development.