The upcoming Arab economic summit in Riyadh would focus on promoting intra-Arab trade, which is now estimated at a tiny 10 percent, said Abdullah Al-Mubti, President of the Council of Saudi Chambers, yesterday. Speaking to reporters, he said a preparatory meeting for a business forum to be held on the sidelines of the January summit was held in Beirut on Friday, adding that the meeting discussed the Arab private sector's concerns on global economic developments. “The private sector contributes 50 percent of the gross domestic product of Arab countries," Al-Mubti, who is vice president of the Federation of Arab Chambers for Commerce, Industry and Agriculture was quoted as saying by a press report published today. --MORE
