Monday, November 28, 2016

Equatorial Guinea Hosts Successful IV Africa-Arab World Summit

The Republic of Equatorial Guinea hosted a successful IV Africa-Arab World Summit at the Sipopo Conference Center in Malabo this past week.

The President of the Republic of Equatorial Guinea, HE Obiang Nguema Mbasogo, welcomed world leaders and ministers of foreign affairs, finance, and economy to Equatorial Guinea’s capital to discuss bilateral relations and future investment projects.

The outcome of the Economic Forum of the Summit produced the Sheet of Recommendations, which focused on the expansion of regional financial and development institutions to finance private sector investment projects.

The Sheet highlighted investment in the infrastructure and transport industry, and called for legislative support to facilitate partnership between the public and private sectors. Stronger partnership is called for to improve the level of services between Arab and African routes, as well as the offering of incentives so traders and carriers renew old fleets and finance new logistics projects.

The Sheet also stressed the importance of free international border trade for Arab and African countries and the evaluation of value added services promoted by transport centers.

The Summit also featured the presentation of the Al-Sumait Prize for scientific achievement in the field of food security and health on the African continent to leaders in their respective fields.

The President presented the Prize to the recipients, along with the $1,000,000 USD award to develop their projects.

The next Africa Arab Summit will be held in Riyadh, the capital of the Kingdom of Saudi Arabia.