The Council of Arab Economic Unity was initially established as a specialized Arab regional organization in 1964 with its permanent headquarters in Cairo.
The Minister of International Cooperation H.E. Dr. Rania A. Al-Mashat, and Egypt’s permanent representative to the Council of Arab Economic Unity, met with Ambassador Muhammadi Ahmed Al-Ni, the new Secretary-General of the council who assumed his duties during the 111th session held in Cairo last June. During the meeting, Al-Mashat and Al-Ni discussed means of cooperation between the Ministry of International Cooperation and the General Secretariat of the Council of Arab Economic Unity. The meeting encompasses talks on how to develop the council’s role and performance, and ways to activate its mechanisms, stressing that Egypt supports the council’s role in advancing Arab economic integration through trade and investment by facilitating intra-trade relations among Arab countries, and by exchanging capital and labor to enhance the people’s livelihoods. Al-Mashat expressed that the council would work to develop its mechanisms and objectives to fully restore its governance and achieve its objectives, alongside developing economic studies and research that can be presented to specific committees of the council. The research shall be focused on exploring the necessary means to increase the effectiveness of member states, pushing towards an Arab economic integration. Al-Mashat and Al-Ni put forth the need to streamline the efforts of the Arab Federations in order to benefit from their affiliations and efficiently achieve their vision for economically integrated Arab countries. The Arab Marketing Agency and the Arab Court of Arbitration are the two entities recently developed by the council, with the sole focus on settling economic disputes within the Arab Federations in order to ease their work and facilitate the development work in the area, aspiring for a regional economic growth. From his part, Ambassador Al-Ni applauded the efforts made by the Ministry of International Cooperation as Egypt’s permanent representative at the Council of Arab Economic Unity, and representative of the country’s headquarters, in supporting the role played by the council to develop its mechanisms and promote joint Arab coordination. The Council of Arab Economic Unity was initially established as a specialized Arab regional organization in 1964 with its permanent headquarters in Cairo. In accordance with Article 3 of the council, it aims to organize and consolidate economic relations between Arab countries based on compatibility through natural and historical ties. The council also aims to secure the best conditions for economic prosperity. The importance of these efforts lies in the need to strengthen economic unity among Arab countries by creating economic integration and by supporting countries in facing economic challenges regionally and internationally.