The fourth Summit held Tuesday for the Arabic States and the States of Latin America with the participation of the 34 Arab and Latin has preceded this Conference to organize a business forum in Arabic countries and their counterparts in Latin countries with the participation of Arab and Latin 350 and organized by the Council of Saudi Chambers to discuss ways to enhance cooperation and exchanges and economic and trade integration between the two sides. The Forum has produced some interesting insights and ideas that will move forward in creating strong economic partnerships between the two sides, such as the establishment of a company for maritime transport and other logistics services and increase the number of direct flights and maritime air and facilitate visas for tourism and business and enhancing the level of trade between the two sides and establishing bilateral business councils and the establishment of an Arab common rooms and accelerated trade liberalization and creating a favourable environment to encourage and guarantee investments and expansion in convening and organizing forums and congresses and the meetings between businessmen regularly and frequently.
There is no doubt that the economic ties between the two Arab and Latin old relationships and can be described as somewhat enhanced developing the three previous conferences since the first Conference in Brazil in 2005, where it is estimated that the annual growth rate for exports to Latin America reached Arabic 17% growth rate in imports from Latin America amounted to 20% of the expected volume of trade between the two sides, $ 50 billion by 2020. However, these relationships were not up to date as the two sides aspire if we talked about promising opportunities enjoyed by both sides that could be attractions for each side to engage with the other side, such as energy, petrochemicals, manufacturing, building and construction and technical knowledge, as well.
Here we see that it is important at this stage to go to strengthen the economic partnership between businessmen and their counterparts in Latin America and to increase the volume of trade and investment on both sides.
We in the private sector look to the Forum and the Summit is to complete the process of economic integration, investment and scientific, cultural and technical. We also look forward to exploit commonalities between Arabic and Latin sides to create a new global economic power we have a joint presence at the g-20 as well as our joint force be reckoned OPEC through the largest oil reserves in the down and more than two-thirds of the world’s oil reserves in the Arab sides and Latin. And all that we see and we look forward to be a world economic power but Arabic and Latin America States States to rearrange seats new global economies.
Dr. Hamdan bin Abdullah alsmrin
Deputy Chairman of the Council of Saudi Chambers
The President of the Chamber of Commerce and industry in hollow