Experts welcome the consolidation of the currency and the establishment of Arab common market
Date: Thursday, 05.04.2012 9:38
Baghdad / Ahmed Abed Rabbo,
a number of experts and professionals in the economic aspect that the proposal that was presented at a meeting of finance ministers Arabs in Baghdad to unify the currency of Arab and create a common market will work to maximize economic efficiency within the cluster that you want integration, explaining that he needs to stages prior undertaken by these countries.
The deputy governor of the Central Bank of the appearance of Mohammed Saleh (range) that… the stages that precede the process of currency unification of Arab, including Free Trade Area of the major, as well as Union Alkmarki where the Arab countries tax exemptions among themselves, and be Tarafadtha customs towards countries outside the bloc, the same value results in the exchange of goods between the countries of the bloc added value high to be free from all taxes customs.
Saleh added: The following procedure is known as the Common Market, which includes the Arab countries, indicating the free movement of capital easily in the market as well as the unification of fiscal policy and monetary between States, as well the creation of a single central bank will issue the single currency.
For his part, said the economist as Abdul Hadi’s (long) The economic integration of Arab countries in terms of a single currency will give strength to the Arab economy in general, noting that this procedure is one of the highest levels of integration Economic, calling for the need to have each one of them, a program through cross-fertilization between wealth Ktabieih and human.
Most of the levels of economic inconsistent.
said Abdul Hadi: There are some actions prior to this issue, which is for fiscal policy is created through which the Arab bank manages the currency Arabic, and thus monetary policy becomes not subject to Arab governments, which means giving up part of the fiscal policy, asking, I wonder if that States and after the completion of stages of economic Eligible capable of waiver, pointing out that this is a major challenge Kalmugod in the European Union.
, the A member of the Finance Committee in the House of Representatives Majida al-Tamimi (range): This project needs to analytical studies of the economics of the Arab countries, indicating they differ in terms of resources there are countries excel human resources and other viable agriculture, noting that Sudan is the food basket of the Arab as water and fertile land.
said Tamimi: The results of the single currency will benefit the public through the rotation of the work that result in a cash surplus directed to investments, indicating the need for security and political stability of the Arab countries.
They pointed out that Europe when united currency was able to save Greece from the economic collapse that hit all the joints of public life.
In the meantime, according to a member of the Economic Committee in the House of Representatives Amer winner that the proposal that was presented at a meeting of finance ministers Arabs in Baghdad to unify the currency of Arab and create a common market will support the economies of Arab countries, particularly the Iraqi economy.
said Fayez, according to (of the Agency news) should not forget that the principle of the Union means the power, in order to unify Arab stances and political rapprochement and economic between them must be the integration of Arab economic, through the consolidation of common markets and currency Arabic, which will support the economies of all the Arab countries, the fact that these countries have abundant large and in all sectors, whether agricultural or industrial or oil or tourism.
said Fayez: In the event of economic integration Arab and the issuance of a unified Arab currency, this will give economic power to all Arab countries including Iraq, because most Arab countries have the spring and become systems where democracy after the dictatorship of the object to the establishment of such activities, pointing out that the opportunity is now appropriate to make the Arab economy enjoy development and prosperity.
and the Ministers of Economy and Finance Arabs who met in Baghdad as part of the meeting of Economic and Social Council of the Arab Summit Conference of Arab, had touched the subject of Arab economic integration and unification Arab currency and make a common Arab market.