RIYADH, 20 August —Well-known Saudi economist and former member of the Shoura Council Dr. Abdulaziz Daghestani has called for a special committee to study why Saudi exports to the US and other countries in the aftermath of Sept. 11 and take corrective measures in this regard.
He was speaking to Arab News in the context of the deteriorating Saudi-US relations and what strategy needs to be adopted to diversify the Kingdom’s export market.
Interviewed in the same context, a Saudi journalist called for a review of the media strategy, while an educationist suggested alternatives available for Saudi students wishing to pursue higher studies abroad.
Dr. Daghestani said one of the problems impeding the growth of Saudi exports is financing. “They should formulate a mechanism whereby the Saudi industrial sector has access to export credit facilities. Such a measure has acquired a sense of urgency, especially as the Kingdom’s bid for membership of the World Trade Organization is still pending. If they don’t have export credit facilities now, what will be the situation after joining WTO? he asked.
Dr.Daghestani said the Kingdom should review its economic relations with the US in the light of the vicious media campaign against it. To this end, the Saudi business community should repatriate its funds (estimated at between $ 750 billion and $ 1 trillion) invested mostly in the private sector. Such a pullback of funds, which should be according to a well-laid-out plan, is dictated not only by the imperatives of the current situation but also by the decline of the US economy. “These funds should be invested in the Kingdom and other Islamic countries, besides those of Southeast Asia and Europe”, he observed.
At the same, he suggested, a parallel effort should be mounted to tap new markets for Saudi exports in Southeast Asia, China, Eastern Europe and Africa. “These markets have been neglected in the past. Also, Arab countries should establish a common market in this new world order to boost intra-Arab trade.
Saudi journalist Abdulaziz Al-Hendi said Saudi media campaign has been ineffective as it is being directed against the US government, when the thrust should have been on influencing US public opinion. “Moreover, who in the US or other Western countries read what is appearing in the Arabic press. It is the Saudi English media that should take the lead in educating the American public opinion. For this reason, I welcome the initiative of Arab News.”
Al-Hendi said US media campaign against Saudi charitable organizations is totally biased and misconceived, since charity is a religious obligation in Islam.”How come Christian charitable organizations are not questioned for helping the poor and the needy, while Islamic organizations are targeted for doing the same thing? But we have to respond to such attacks by not being emotional but in an organized manner.”
Saber Al-Abid, an educationist, referred to options available for Saudis wishing to pursue higher studies. He mentioned southeast Asia, Europe and Australia as having all the facilities for higher education.
The Ministry of Higher Education has also approved some private colleges in Egypt, Lebanon and Jordan for Saudi students. They could also study in India for information technology, medicine and engineering,” he added.
