“The current developments in the Arab world should prompt the Arab private sector to prepare itself for serious efforts with a view to correcting the process of the Arab economic and social development,” the Federation of Arab Chambers of Commerce, Industry and Agriculture (FACCIA) said in a statement.
The FACCIA made the remarks at the end of its 110th session that ended in Amman on the fringes of a conference for Arab businessmen and investors.
It called for upgrading legislations as well as economic and social policies in such a manner that “ensures a fair distribution of income among various segments of the society and achieving a balanced economic and social development throughout the Arab world”.
“Efforts should now focus on the accomplishment of justice, fighting corruption and monopolies, boosting competitiveness and adopting principles of transparency and effective accountability,” the statement said.
The meeting, which was chaired by the FACCIA President Adnan Qassar, discussed the economic and social implications of the uprisings in Tunisia, Egypt and Libya and protests in other Arab countries.
It also considered the role of Arab businessmen in responding to the slogans of Arab protesters, mainly addressing poverty and unemployment, fighting corruption and ensuring better life for the present and future generations, conferees said.
