Egypt’s Minister of Investment and Foreign Trade Mohamed Farid called for stronger economic integration among Arab countries, noting that intra-Arab trade exceeds $250 billion despite the significant growth potential across regional economies.
Farid made the remarks while representing Egypt at the 118th session of the Arab Economic and Social Council at the ministerial level, held under rapidly changing regional and global economic conditions.
He stressed the need to unify trade and investment data and information systems across Arab markets to support investment decisions and facilitate the expansion and movement of businesses between countries.
Farid also called for continued development of the Greater Arab Free Trade Area and the Arab Customs Union, alongside efforts to boost Arab investment and remove further barriers to trade and investment.
He proposed expanding areas of regional integration to include voluntary and mandatory carbon markets, financial and non-bank financial services, insurance products, fintech and actuarial sciences.
The minister highlighted the importance of cooperation on digital transformation, including progress toward establishing an Arab framework for the responsible governance of artificial intelligence and data, as well as strengthening human-capital development.
He said the session’s agenda includes preparing the economic, social and financial file to be submitted to the Arab League Summit at its 35th ordinary session, stressing that its outcomes should reflect current priorities and advance regional economic and social integration.
Farid said Egypt is committed to helping develop an integrated Arab vision for economic, social and financial development and coordinating with member states to find practical solutions to current challenges.
He added that strengthening Arab markets’ capacity for financing and investment could boost trade and investment flows, facilitate the movement of investors between countries and allow businesses to capitalize on opportunities across the region.
Farid concluded that deeper Arab economic integration requires moving beyond coordination toward practical linkages between markets and financial and investment sectors, strengthening the region’s ability to withstand shifts in the global economy.