HRH Premier calls for strategy to protect Arab economies

Manama, Nov. 19 (BNA): His Royal Highness Prime Minister Prince Khalifa bin Salman Al Khalifa has affirmed that Arab countries are facing an economic challenged caused by the global oil prices and a security challenge caused by terrorism. Such challenges require us to adopt unified political, economic and security stances, given the fact that challenges affect all and no country in the region is immune from them, HRH Premier said, calling for devising a cooperation strategy to protect the economies of Arab countries, especially regarding energy. "The challenges of terrorism and oil prices' decline should not affect GCC countries' efforts to maintain their advanced sustainable development strides; they should rather increase the pace of development to fulfil our aspirations for more progress and prosperity for our peoples," he said. HRH Premier made the statements as he received at his Palace in Riffa today the Saudi Minister of Petroleum and Mineral Resources Ali bin Ibrahim Al-Naimi, Egyptian Minister of Petroleum & Mineral Resources Tarek El-Molla, as well as a number of senior participants in the APICORP Energy Forum, currently hosted by the Kingdom. HRH the Prime Minister stressed the need to enhance cooperation among Arab and GCC countries in the field of energy, and boost investments in the oil industries to support their sustainable development plans and strengthen their capacity to deal with the severe fluctuations and decline in oil prices. HRH Premier affirmed that the kingdom's hosting of the APICORP Energy Forum promotes its status as a leading hub of exhibitions and conferences in light of its advanced infrastructure, as well as its free and open investment atmosphere. The Saudi and Egyptian ministers expressed sincere thanks and appreciation to HRH Premier for his patronage of APICORP Energy Forum, which, they said, will motivate all the participants to come up with a future vision that contributes to developing energy policies globally. They lauded HRH Premier's wisdom and sound diagnosis of the nature of challenges facing the world, and constant keenness to enhance joint Arab action in the field of energy amid the serious conditions the region and the world are currently going through.