The Secretary-General of the Union of Arab Chambers, Dr. Khaled Hanafi, met during his visit to Riyadh – Saudi Arabia, the Director General of the Arab Bank for Economic Development in Africa (PADIA) and the former Minister of Economic Affairs and Development of the Islamic Republic of Mauritania, Sidi Ould Tah. During the meeting, they discussed ways to enhance cooperation between the Union of Arab Chambers and the Arab Bank for Economic Development.
During the meeting, they discussed the successful partnership between the Union of Arab Chambers and the Arab Development Bank, which was devoted to many events and activities. They also discussed mechanisms to strengthen this partnership through the organization of more events and activities that support Arab-African economic development and cooperation. In addition, to working to sign more cooperation agreements between the two sides, to serve the common Arab-African interests. The Secretary-General of the Union, Dr. Khaled Hanafi, stressed, "The Union of Arab Chambers is keen to strengthen cooperation with the Arab Bank for Economic Development in Africa (PADIA). This meeting with the General Manager of the Bank, H.E. Sidi Ould Tah, comes in the context of exchanging views and ideas, to raise the level of cooperation to levels that meet our common goals. The Union's work is focused on promoting joint Arab action and upgrading the level of private sector activity. At the same time, the Bank has a long history of working to enhance the reality of economic development not only in the Arab countries but also in the African continent. Hence, it can be said that there is a fundamental complementarity between the work of the Union and the Bank, which we hope by raising the level of cooperation and coordination among us, will contribute more and more to serving the development goals of our Arab and African countries and peoples."
The agreement was revealed during the meeting on the necessity of establishing a logistical corridor linking the Arabian Gulf region, Africa, and Egypt, passing through the African continent and reaching South America. The importance of the proposal was stressed and work to implement it in cooperation and coordination between the Union of Arab Chambers and the Arab Bank for Economic Development in Africa (Badia), and in partnership with the competent and concerned authorities in Arab and African countries.
Hanafi noted the distinguished role played by the bank in achieving development, whether in the Arab countries or the African continent, through the huge development projects it implements, which have benefited Arab and African countries. He stressed, "The Bank's practice of its activities within a geographical framework that goes beyond the regional work of the League of Arab States has contributed to deepening the spirit of solidarity and joint cooperation between Arab countries on the one hand and among the countries of the African continent on the other."
For his part, Sidi Ould Tah praised the outstanding work carried out by the Union of Arab Chambers, noting the events organized by the bank in partnership with the Union of Arab Chambers. He stressed that "we at the Arab Bank for Economic Development in Africa (Badia) are concerned today with raising the level of cooperation and partnership with the Union of Arab Chambers, in order to achieve common goals and aspirations."
He pointed out that "Arab and African countries are rich in natural and human resources, and it is very important to raise the size and level of the Arab-African economic partnership and to have important partners such as the Union of Arab Chambers to strengthen this partnership. Whether through governments or the private sector, which is the main engine and supporter of both Arab and African economies. The Arab Bank for Economic Development in Africa aims to support economic, financial, and technical cooperation between Arab and African countries. Contribute to the financing of economic development projects, encourage the participation of Arab capital in these projects, and provide the necessary aid for development in Africa."
Source (Union of Arab Chambers)
