The Arab League said that concerted and unified efforts are needed among the countries of the region to confront the challenges and crises facing the global economy.
The Secretary-General of the League of Arab States for Economic Affairs, Ambassador Mubarak Al Hajri said on Monday in Cairo that Arab countries are not immune from the challenges of the global economy.
The world is facing a fallout from political and economic crises, armed conflicts which are afflicting the economies of countries, he said.
Al Hajri said, during the launch ceremony of the unified Arab economic report for 2021 at the Arab League, that concerted and unified efforts among the countries of the region are needed to overcome the challenges of unemployment and poverty.
He said the existence of such economic documents, including the unified Arab Economic Report remains of utmost importance in view of such challenges.
He said that in the light of the Russian-Ukrainian war, many countries in the Arab region are facing problems in obtaining wheat, corn and other food products.
Many countries in the region depend on Russia and Ukraine for wheat, corn and other food products.
Al Hajri said that there must be innovative solutions, strategies and plans to deal with the crisis, which the ongoing war will inevitably compound.
The region possesses vast arable areas amounting to 198 million hectares, of which 50 million hectares are exploited, which is equivalent to 25 percent of the arable area, he said.
Al Hajri said the Arab region has a potential to produce a variety of agricultural crops by expanding the use of fertilizers and improved seeds.
The existence of financial surpluses in some Arab countries can be invested in agriculture, he added.