Arab League calls for coordinating policies to face repercussions of oil crisis

The Arab League asserted the necessity of taking a unified Arab stance vis-a-vis the oil crisis and facing the repercussions of the setback in oil prices through coordinating Arab policies at the regional and international levels.

This came in the address of Arab League Secretary General Nabil el Arabi to the opening session of a conference on repercussions of oil crisis on the management of Arab economies. The address was read out by Arab League Deputy Secretary General Ambassador Ahmed Ben Helli on behalf of the secretary general.

The conference is held at the Arab League premises and is organized by the Arab Organization for Administrative Development.

He also underlined the importance of the new projects announced by the United Arab Emirates to diversify the resources of its income as well as the vision announced by Saudi Arabia for 2030.

Beni Helli also voiced hope over getting acquainted with the promising projects of other Arab countries to deal with the after-oil phase.

He reiterated that big changes and challenges facing the Arab region imposed a new reality which necessiatated activating the joint Arab action, unifying Arab targets in order to cope up with such great challenges.

Addressing the conference, Oil Minister Tareq al Mullah expected continuation of instability of the oil market in the coming phase in view of unexpected international factors and turmoil in some oil producing countries such as Libya, Nigeria and Iraq. 

Source : MENA