Federation of Arab Chambers of Commerce: The private sector represents 75% of the Arab GDP
Samir Abdullah Nass, President of the Union of Arab Chambers, President of the Bahrain Chamber of Commerce and Industry, confirmed that the Arab private sector represents 75% of the Arab GDP, and absorbs about 75% of Arab citizens in the workforce, stressing the importance of cooperation and integration in playing roles between the sector. Private sector and Arab governments, as it is an essential pillar for advancing joint Arab economic and social work and integration, and for achieving economic and social development for Arab countries, making them more capable of integrating into the global economy, and more flexible in dealing with international challenges.
Nass said in his speech during the 20th session of the Arab Business Owners and Investors Conference, which was held in the Jordanian capital, Amman: “The private sector has a major role to play in transforming the sustainable development goals into a tangible reality on the ground in the Arab region, and that role does not only mean employing… Arab youth and job seekers, but also the advancement of Arab economies and raising the level of the Arab private sector not only to increase intra-regional trade but also to gain access to global markets.”
Nass called for working to develop an Arab strategy for digital transformation and a circular and participatory economy based on the Fourth Industrial Revolution, aiming to develop the legislative and technological digital infrastructure, in addition to working to implement energy connectivity projects between Arab countries, and developing an Arab strategy for renewable energy, stressing the importance of addressing Obstacles facing the transport sector, developing land, rail and sea transport, and achieving connectivity between land, sea and air transport networks between Arab countries, as they are essential arteries for the movement of trade, tourism, investment and employment within the Arab region.