Thursday, December 1, 2016

Equatorial Guinea Hosted Africa-Arab World Summit Action Plan Meeting

The IV Africa-Arab World Summit, hosted by Equatorial Guinea at the world-class Sipopo Conference Center, approved the 2017-2019 Action Plan for projects in trade, investment, transportation, agriculture, and energy.

The nineteen projects totaled $6,285,000 USD and included the creation of an Africa-Arab Forum for energy investment, an evaluation center for climate resources, and a center for the exchange of emigration information.

The Arab Bank for Economic Development in Africa (BADEA), the Arab League, and the African Union will jointly finance the projects.

Regular meetings will be held with these organizations and financial institutions to increase coordination in development, finance and trade ministerial cooperation, and resource strategy for agricultural development and food security.

The Action Plan also outlined the creation of an Africa-Arab free trade zone to benefit the private and pubic sectors.

The Summit thanked the government of Equatorial Guinea for “generous hospitality and effective organization, which provided the most positive and favorable conditions for this edition of the meeting.”

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