Action économique arabe commune (AEAC)
within the framework of League of Arab States (LAS), following creation, 1977, of a group of 20 experts: 'Commission des experts de la stratégie de l'action économique arabe commune'. Base documents include: Arab Common Economic Action Charter, strategy for AEAC, Convention sur les Investissements dans les Pays Arabes (facilitating movement of capital through creation of a common investment region) and Arab Economic Decade, all approved by the Arab Economic Summit, Nov 1980, Amman (Jordan); Convention sur les Facilités et le Développement des échanges Commerciaux, signed 27 Feb 1981 in the framework of the Economic and Social Council. The Charter covers political, economic and commercial considerations of inter-Arab relations and also Arab-international relations, particularly cooperation with Third World countries and participation in the new international economic order. An agreement launching an 'Arab Free-Trade Area (AFTA)', currently Greater Arab Free-Trade Area (GAFTA), was signed in 1998 by 18 LAS member states.
Ensure: integration of Arab economies; food, technological and military security; establishment of a new Arab economic order complementary to and balanced with the new international economic order; reduction of development disparity among Arab states and the regions of these countries.Available with paid subscription only.
Priority is given to the following areas:
• -Training and education;
• -Acquisition of technology;
• -Food security (autosufficiency);
• -Industrialization, principally in the following industries:
• --Means of production,
• --Petroleum, petrochemicals and chemicals,
• --Electricity network,
• --Communications and telecommunications network,
• --Transport network;
• -Coordination of Arab economic foreign relations with respect to:
• -Establishment of forward planning at an inter-Arab level.
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