Sliding oil price pose a major challenge to Arab economies | GulfNews.com:
"The declining oil price poses a challenge to the economy and especially the private sector in the Arab world and comes on top of other political and security challenges, former prime minister of Lebanon Fouad Siniora said at the UAE energy forum in Abu Dhabi on Tuesday.
He however said the lower oil proceeds should be an incentive to fast track the necessary reforms at the institutional, judicial, administrative and overall business climate to empower the Arab private sector but also to attract foreign direct investment and diversify the national economies.
“No individual Arab economy can by itself resolve all the challenges it is facing, and therefore it is high time to move along a vision of Arab economic integration that is based on shared interests and objectives and not on empty slogans and fake banners,” he said."
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