The Gulf Time Newspaper One of the finest business newspapers in the UAE brought to you by our professional writers and editors.
CAIRO / WAM
The Arab League commended measures taken by the United Arab Emirates (UAE) in response to the impact of the decline in world oil prices.
“There are promising signs emerging from the project implemented by the UAE to diversify sources of national income,†Arab League’s Secretary-General Dr Nabil Al Araby said in a keynote address at the Conference on the Repercussions of the Oil Crisis on Arab Economies’ Management, organised by the Arab Administrative Development Organization (ARADO) in the Egyptian capital, Cairo, on
Tuesday.
In his address, Al Arab said the deep transformations the Arab region is experiencing had imposed a new reality and challenges that require Arab institutions to join forces to interact with them and respond to them.
Al Arab also called for a common Arab approach to handle the impact of low oil prices on Arab economies.
“Arab oil policies need to be co-ordinated and harmonised at both regional and international levels so that Arabs can act as one bloc to mitigate the negative impacts on Arab oil industries,†he said.