The Third Afro-Arab Summit: Cooperation for Economic, Agricultural and Food Security Investment
02 October, 2013KHARTOUM, (Sudanow) - Arab and African states are looking forward to the Third Afro-Arab summit to be hosted by Kuwait on November 18-20 under the motto of “Partners for Investment and Development”.
That summit is set to discuss the establishment of an Afro-Arab preferential trade zone beside issues relevant to a joint action in fields of investment and economic, agricultural and food security cooperation. It is hopeful that the summit will come out with recommendations that can help the developing African nations cope with the current economic crisis.
The host country, Kuwait, pledged preparedness and keenness for the success of the summit which comes in the context of the Afro-Arab partnership strategy that was approved in Sirte, Libya, Declaration that was issued by the Second Afro-Arab summit in 2010. The Emir of Kuwait, Sheikh Sabah al-Ahmed al-Jabir, extended invitations to a number of Arab and African heads of state for participation in the summit. Sudanese President Omar al-Bashir received Sheikh Sabah official invitation that was handed over to him by Kuwait Ambassador to Khartoum Dr. Suleiman al-Harby.
Following his meeting with the Ambassador, who called on the expiry of his assignment in the Sudan, President Bashir expressed willingness for participation in the summit which he hoped would adopt resolutions that could serve the common interests of the Arab and African nations. He noted that Kuwait was among the first Arab and Islamic countries that expanded its development and humanitarian activities in the African Continent and has been maintaining special ties with the African countries.
The Secretary-General of the Sudanese National Organization for Investment, Ahmed Shawir, said the Sudan would play a major role in the summit, bearing in mind that Kuwait is one of the biggest and earliest Arab countries that has come to invest in all fields in the Sudan. The first activity by the Kuwaiti Fund for Arab Economic Development (KFAED), Number One, involved the Sudan Railways, said Shawir. He added that Kuwait’s contribution to the development in Sudan covered fields of electricity, transportation, communication, real estate, sugar and agriculture. In the services sector, Kuwait’s contribution was through Zain Communication Company, the Sudanese-Kuwaiti Hotels Company and the Kuwaiti apartments building complex overlooking the Blue Nile, Shawir said. He cited its contribution to the Kenana Sugar Company, the Kuwaiti Poultry Company and the United Money Bank.
Shawir commended Kuwait’s contribution to the success of the conference that was held for establishing a fund for reconstruction of east Sudan and offering in that conference of 500 million dollars in grants and loans in support of the education, health, electricity and sanitation services in east Sudan. The Fund carried out a number of development projects in the east, he said.
The KFAED generously contributed to the construction of Merowe Dam, the heightening of Er Rosaires Dam and building of Upper Atbara and Sitait Dam and to sugar industry in addition to the extensive humanitarian activities by the Kuwaiti NGOs which cover most parts of the Sudan, particularly the peripheral states. Observers highly appraise the great role Kuwait plays at the regional and international levels in addition to its internationally appreciated diplomacy that made the name Kuwait a synonym to assistance, generosity, benevolence and respect to everyone everywhere in the world, especially in the Arab and Islamic countries.
The Kuwaiti Fund for Investment in Africa (KFIA) is a leading investment institution aimed at achieving long-term profits for investors in all parts of Africa. It is preferred by 70% of financial consultants in the United Arab Emirates (UAE) who recommended Africa as an appropriate investment place for their clients. The KFIA invests in the companies registered in the African stock markets in addition to companies outside Africa but earns most of its profits in that Continent.
Investment in Africa has remarkably increased during 2013 while the investment operations run by clients from the UAE have grown by 50%.
Studies have shown that 40% of the jobs (1,500) created by the Kuwaiti Fund were generated from UAE investments.
More than 7,500 people in Africa benefitted from these job opportunities, something which boosts opportunities for achieving long-term investment profits in the regions where the KFIA invests. Moreover, 82% of the financial consultants worldwide recommend to their clients Africa as an appropriate venue for investment.
Kuwait offers the investors diverse and integrated opportunities for benefitting from the tremendous growth potentials in Africa, relying on an investment course of action based on long-term sustainability and growth. The company donates at least 25% of the proceeds of the administrative fees to the KFIA in support of the local economic development in Africa and the new small business projects and creating new job opportunities in Africa through the microfinance system, without impairing the profits of the investors.
The preparatory meetings of delegates of the African Union and Arab League held in Cairo and Addis Ababa concentrated on follow-up of implementation of Sirte summit resolutions and on preparations for the forthcoming Third summit of Kuwait. Those meetings also discussed new projects to be presented to the summit and their benefits for the peoples of the African and Arab countries. They also examined ways and means for overcoming the obstacles in implementation of the previous projects and formation of an Arab-African fund for confronting disasters and for risk management. The meetings also decided on a strategy for defining the objectives of sustainable development of the water resources and benefitting from those resources.
The Assistant Under-Secretary for Economic Affairs of the Kuwaiti Ministry of Finance, Sami al-Sag’aby, who headed the Kuwaiti delegation to meetings of the economic committee of the Arab Socio-economic Council recently held in Cairo, Egypt, underlined the importance of the Third Afro-Arab Summit to be held in Kuwait next November. Preparations will be so perfect to ensure reaching a positive outcome that will contribute to achieving economic development for both Arab and African regions, said Sag’aby.
He added that the summit deliberations would focus on enhancement of Arab-African cooperation in the fields of economy, trade, investment, infrastructure, transportation, communication, energy and the private sector.
The Kuwaiti official said since its establishment in the 1960s, the Kuwaiti Fund for Development has become the economic arm for Kuwait in Africa, executing great development projects in Africa estimated at billions of dollars. He said the Fund keeps away from politics and is concerned solely with the development of the Arab and African peoples. Kuwait has been engaged in backing the African and Asian continents and has launched a number of initiatives for the purpose, including formation of funds and economic agreements with those African and Asian nations as well as the Gulf Cooperation Council and Arab countries. All those efforts are aimed at strengthening the bonds of cooperation with those countries, he added.
The Assistant Under-Secretary for Economic Policies in the UAE, Mohamed Salih Shalwah, also stressed the importance of the forthcoming Afro-Arab summit for cementing the Afro-Arab cooperation in all spheres.
For his part, the Assistant Under-Secretary for Economic Affairs in the Arab League, Ambassador Mohamed al-Twaijry, said the agenda of the committee include several topics previously discussed by the specialized technical bodies and would be considered and approved by the Arab Socio-economic Council.
Twaijry said an Afro-Arab economic forum would be held on the sidelines of the summit on November 11-12 to discuss several issues of common concern to both sides.
The summit will be preceded by meetings of delegates, senior officials or ministers due to start on November 13.
The summit priorities will include examination of achievable and unconventional projects that will serve the Arab and African peoples.
Consultant Hamad al-Mish’an, Director of the African Department of the Kuwaiti Foreign Ministry, is hopeful that the summit would be effective and positive and would determine joint achievable economic projects.
The Director of the Department of Africa and Afro-Arab Cooperation and Chairman of the Preparatory Meeting, Ambassador Samir Hosni, told reporters that the meeting would follow up the important dossiers which would be submitted to the Afro-Arab summit, including the establishment of the proposed African-Arab preferential trade zone and other files related to a joint action in the fields of investment and economic, agricultural and food security cooperation in the framework of an Afro-Arab partnership strategy.
The Afro-Arab partnership strategy, according to Sirte Declaration, provides for establishment of an Arab-African fund for disasters and risk management and for conducting a strategic study aimed at determining the objectives of sustainable development in water resources and benefitting thereof.
Asked whether the regular Afro-Arab summits have activated the Afro-Arab cooperation, Hosni described as an important accomplishment the periodic organization of the summits since the convening of the first one in Cairo in 1977, the second one in Sirte in 2010 and the third summit yet to be held in Kuwait next November. This new mechanism has put in place plans for cooperation in the right direction.
Hosni added that the conditions being witnessed by the Middle East region have had a great impact on implementation of the Afro-Arab partnership plan that was endorsed by Sirte summit of 2010 covering the period from 2011 to 2016.
Despite those circumstances, Hosni went on, a number of joint projects have been carried out. He said the Arab side is hopeful that the remaining political, economic and social projects would be implemented during the remaining three years.
He noted that the index of the trade exchange between the two sides has exceeded 8% from less than 1%. (Hosni did not give dates).
The 92nd session of the Socio-Economic Council that was held in the headquarters of the Arab League in Cairo stressed the need for continued preparations for the third Afro-Arab summit, drawing up joint programmes for boosting trade and investment between the two sides and bringing in the private sector and concerned Arab institutions for participation in those programmes. The Cairo meeting also called for finding an agreement for encouragement and protection of investment activities in the Arab and African countries.
As regards furthering the Arab-African cooperation in the field of transportation, the Council called upon the Arab and African countries to back efforts for linking the two regions together as a way for boosting the Afro-Arab partnership in the spheres of transportation by land, rail, sea and air, taking in consideration the Arab transportation and NEPAD plans.
The Council also underlined the importance of enhancing the Afro-Arab cooperation in the fields of communication and information technology
for finding and developing different industries in this field in addition to expanding contacts between the sectors of development in the two regions.
The Arab Council called for convening a joint meeting of the Arab and African ministers of electricity and energy to discuss ways for bilateral cooperation in the field of energy.
As regards pushing forward the Afro-Arab agricultural investment cooperation, the Arab Council called upon the two sides to provide the facilities necessary for the food security projects. It also underlined the importance of consolidating cooperation between the Arab and African private sectors.
The Arab Council welcomed the plan for holding an Afro-Arab forum in Kuwait on November 11-12 to prepare for the third summit.
It indicated that the economic dossier which will be submitted to the summit places emphasis on strengthening the Arab-African cooperation in the spheres of the economy, trade, investment, infrastructure, transportation, communication, energy and the private sector.
It is to be noted that since the establishment of the Kuwaiti Fund for Development in the 1960s, Kuwait has been supporting the African and Asian countries and, for this purpose, has launched initiatives and set up funds and concluded economic agreements with those countries as well as the Arab and Gulf Cooperation Council nations.
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