To conclude the fourth Summit of Arab and Latin American leaders in Riyadh, the central focus today will be to promote economic cooperation and development of relations with each nation.
The final day of the summit is set to commence at 11:00 local time.
The summit opened yesterday in the presence of a number of kings, key leaders of Arab states, and the leaders of South American states. Secretary-General of the United Nations Ban Ki-moon has also been present.
The Custodian of the Two Holy Mosques King Salman bin Abdul Aziz said, “The chances of developing the economic relations between our countries is promising”, calling for “the establishment of councils for the business, and to consider the signing of free trade agreements, and the avoidance of double taxation and promotion and protection of investments between the countries of the two regions, which will provide legal and regulatory framework to promote trade flows between them. ”
Egyptian President Abdel Fattah al-Sisi said that trade exchange between Arab countries and Latin America grew the by $6 billion dollars to more than $33 billion during the past decade, calling for the strengthening of this exchange. He added that Egypt “is looking forward to more investment with Latin American countries.”
Arabia Middle East newspaper published a draft of the final draft statement of the summit, which includes “condemn the Iranian interference in the internal affairs of Arab countries” with confirmation of “the importance of cooperative relations” between the two sides, and to call for “a peaceful solution to the Syrian crisis” with confirmation of “leaders commitment to the sovereignty and independence of Syria.”
The summit is the fourth since 2005 between the member states of the League of Arab States and 12 countries of Latin America.
The summit an opportunity to discuss cooperation with economically and Budget capabilities on a global scale, especially in the field of oil as Saudi Arabia is the largest exporter state.
(Agencies)
