News Analysis: Arab, Africa countries draw up blueprint to eradicate poverty

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News Analysis: Arab, Africa countries draw up blueprint to eradicate poverty

(Xinhua) 08:24, November 21, 2013

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KUWAIT CITY, Nov. 20 -- Despite a first impression of instability, underdevelopment and a hotbed for conflict, Arab and African countries showed their strong will to get rid of poverty at the third Arab-African Summit held in Kuwait on Tuesday and Wednesday.

Some 70 leaders and representatives from the two regions expressed that their countries are not resigned to be marginalized, displaying strong resolution to embrace growth with enhanced internal cooperation.

TANGIBLE COOPERATION

According to UN statistics, over a third of the world's poorest people live in Africa, while nearly a quarter of the Arab population is stuck in poverty.

The Kuwait Declaration, a major outcome of the two-day summit, highlighted food shortage and food security as the core challenges that give rise to other poverty-related problems haunting the two regions, including piracy and drug trafficking.

It calls for interregional investment and cooperation between Arab and African states to develop agriculture, create jobs and eradicate poverty so as to be integrated into the world economy.

To actively respond to the call, Kuwaiti Emir Sheikh Sabah Al- Ahmad Al-Jaber Al-Sabah directed the Kuwait Fund for Economic Development to offer soft loans worth one billion U.S. dollars to African countries in the next five years, while his country will also allocate an annual prize of one million dollars for research development in Africa.

Analysts say such initiatives are more pragmatic and concrete than an empty boast of cracking down on terrorism or ending the long-standing turmoil, as they not only help solve regional problems, but also contribute to the global fight against poverty.

As head of Libya's General National Congress Nouri Abousahmen put it, the summit is about laying foundation for new steps toward "tangible cooperation" in new directions.

GREAT POTENTIAL

In such an interdependent world, any kind of cooperation is important to any countries, not excepting Arab and African nations.

Gulf states, the rich kingdoms in the Arab region, has the ability to invest in Africa considering their oil income and flourishing banking industry in recent decades, despite that the fragility and high risk in their investment in developed economies have already forced some Arab investors to turn to emerging markets in the East and South.

Moreover, cheap labor and the urgent need for infrastructure construction in the African Continent mean greater profit for investors. For instance, a 4,500-km-long desert highway project linking Algeria and Nigeria can be a powerful job creator and fortune generator for investors and local residents alike.

At the same time, many developed economies are now too busy with their own financial predicament to throw weight around in the development of developing countries, which means fewer obstacles for interregional collaboration between Arab and African states in the end.

BUMPY WAY AHEAD

Admittedly, the road ahead is still bumpy taking into account the regions' instability, weak foundation, and even their addiction to a helping hand from outside.

"We have a long way and a hard work ahead, requiring double efforts, and vigorous follow-up to match the high expectations and various challenges," said Kuwaiti Emir Al-Sabah at the closing session of the summit.

Lessening a negative image requires the authorities to make resolute, sometimes bold changes; it also requires timely and effective coordination between countries and regions to put words into practice, analysts said.

According to the Kuwait Declaration, participating leaders agreed to strengthen the Arab-African Economic Forum to enhance the role and participation of the private sector and civil society organizations in building partnerships.

Also, the declaration calls upon the African Union Commission, the Arab League's General Secretariat and existing financing institutions in the two regions to set up a task force to coordinate efforts in implementing the Arab-African Joint Action Plan.