MANAMA, 9 September — Bahrain has urged Arab countries to form a united economic front to combat the financial repercussions of the Sept. 11 terrorist attacks in the United States.
Opening the 26th annual meeting of the Council of Governors of Arab Central Banks and Monetary Agencies in Manama Saturday, Bahrain’s Finance and National Economy Minister Abdullah Saif said Arab economies have suffered, with international investors and tourists shying away from the region after last year’s attacks.
Arab governments need to work together to revitalize their economies and create confidence in the banking and finance sectors, the Gulf Daily News quoted Saif as saying.
The meeting was chaired by Bahrain Monetary Agency Governor Ahmed ibn Mohammed Al-Khalifa.
"This meeting is being held at a significant time, close to the anniversary of Sept. 11," said Saif. The terrorist attacks in the US have had repercussions all over the world, including the Arab countries.
"In such a scenario, it is vital to enhance Arab cooperation in the economic and finance fields," said Saif.
"Our countries have faced difficulties in tourism, transportation, aviation and insurance sectors. International investors are hesitant to play an active role in investment and finance, following Sept. 11.
"As a result, Arab economies have been greatly affected and it is very important for us to discuss ways and means to activate our economies and create confidence in the banking and finance sectors," said the minister.