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:
“I favor the policy of economy, not because I wish to save money, but because I wish to save people. The men and women of this country who toil are the ones who bear the cost of the Government. Every dollar that we carelessly waste means that their life will be so much the more meager. Every dollar that we prudently save means that their life will be so much the more abundant. Economy is idealism in its most practical terms.”
—Calvin Coolidge (1872–1933)
“The aim of the laborer should be, not to get his living, to get “a good job,” but to perform well a certain work; and, even in a pecuniary sense, it would be economy for a town to pay its laborers so well that they would not feel that they were working for low ends, as for a livelihood merely, but for scientific, or even moral ends. Do not hire a man who does your work for money, but him who does it for love of it.”
—Henry David Thoreau (1817–1862)
“The counting-room maxims liberally expounded are laws of the Universe. The merchant’s economy is a coarse symbol of the soul’s economy. It is, to spend for power, and not for pleasure.”
—Ralph Waldo Emerson (1803–1882)