DOHA: The Arab Summit being held here on March 26 and 27 is likely to be historic as Arab leaders might put their seal of approval on a plan that is expected to turn the fortunes of the bloc — the Greater Arab Free Trade Zone (FTZ).
The necessary spadework to see that the FTZ plan is approved by the Summit is over and after the formal nod of the leaders is had, work on the project might actually begin in all earnestness so it sees the light of day by the target year of 2015.
“The Doha Summit is expected to take a final decision on the plan and if it doesn’t for some reason, I am afraid the project might be delayed for long,” said Mohamed Ibrahim Al Tewaijri, Assistant Secretary-General of the Arab League’s Social and Economic Council.
The Arab leaders at their last Summit in Riyadh had assigned the Council the responsibility to identify the obstacles that were being faced in launching the dream project, which was conceptualised 15 years ago, in 1998.
Obviously, it was the Council’s task to recommend the solutions as well. As a result, the Council has identified the problems each member-country faces in contributing its bit to make the FTZ a reality, but has also suggested ways to overcome those challenges.
The first and foremost requirement for the FTZ to see the light of day is to make sure that member-countries have a unified customs regime, said Al Tewaijri. “Most barriers are removed in the past 15 years but some remain, and a unified customs system is expected to be in place among the member-countries by 2013-end.”
Significantly, the Arab League has 22 members but four of them are out of the FTZ plan as they haven’t ratified the agreement. These countries are Somalia, Djibouti, Mauritania and Cameron Island.
To become a member, they must sign the FTZ agreement and begin taking steps to rectify their laws and systems in order to pave the way to make the FTZ a reality.
According to Al Tewaijri, the Council, at its meeting here last Thursday, completed the spadework needed for the Arab leaders to approve the FTZ plan.
“We have proposals regarding each member-country about how they remove the barriers they face in becoming a part of the FTZ and we will help those countries in this task that do not have the necessary capabilities to do so.”
After the FTZ plan is endorsed by the Summit, work is to begin on putting rules in regulations in place that would be needed to see the FTZ work. A unified certification policy would be needed for goods and this means that the member-countries should have a unified standards and specifications laws, said the assistant secretary-general.
Then comes the issue of member-countries signing trade liberalizing agreements among themselves, said the Arab League official, adding he hoped the Arab leaders would approve the FTZ plan.
The Peninsula
