Economy
The Arab League is rich in resources, with enormous Oil and Natural Gas resources, it also has great fertile lands in South of the Sudan, usually referred to as the food basket of the Arab World, the region's instability has not affected its tourism industry, that is considered the fastest growing industry in the region, with Egypt, UAE, Lebanon, Tunisia and Jordan Leading the way. Another industry that is growing steadily in the Arab League is Telecommunications, within less than a decade, Local companies have managed to compete internationally, such as Orascom and Etisalat.
Economical achievements within members have been low in the league's history, other smaller Arab Organizations have achieved more than the league has, such as the GCC, but lately several major economic projects that are promising are to be completed, the Arab Gas Pipeline is to end by the year 2010, Connecting Egyptian and Iraqi Gas to Jordan, Syria and Lebanon, and then to Turkey thus Europe, a free trade Agreement (GAFTA) is to be completed by 1 January 2008, making 95% of all Arab Products tax free of customs.
Read more about this topic: Life In The Arab League
Famous quotes containing the word economy:
“Quidquid luce fuit tenebris agit: but also the other way around. What we experience in dreams, so long as we experience it frequently, is in the end just as much a part of the total economy of our soul as anything we “really” experience: because of it we are richer or poorer, are sensitive to one need more or less, and are eventually guided a little by our dream-habits in broad daylight and even in the most cheerful moments occupying our waking spirit.”
—Friedrich Nietzsche (1844–1900)
“The basis of political economy is non-interference. The only safe rule is found in the self-adjusting meter of demand and supply. Do not legislate. Meddle, and you snap the sinews with your sumptuary laws.”
—Ralph Waldo Emerson (1803–1882)
“Wise men read very sharply all your private history in your look and gait and behavior. The whole economy of nature is bent on expression. The tell-tale body is all tongues. Men are like Geneva watches with crystal faces which expose the whole movement.”
—Ralph Waldo Emerson (1803–1882)