Chamber of Commerce calls for adopting a specific Arab vision to achieve genuine structural economic transformation
Fares Al-Adwan called for adopting a specific economic vision to ensure genuine structural transformation and avoid the middle-income trap
Translated by Qiyas from السياسة — Original source
The Kuwait Chamber of Commerce and Industry called on Monday for the adoption of a clear and defined economic identity and vision to ensure genuine structural economic transformation in Arab countries.
Frass Al-Awadi, Assistant General Manager of the Chamber, told the Kuwait News Agency (KUNA) during the 52nd session of the Arab Labour Conference held in Cairo that without a serious and genuine economic vision, Arab countries will remain in the middle-income bracket and will be unable to provide decent and sustainable jobs that keep pace with rapid technological changes, which may eliminate many routine jobs in the future.
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Al-Awadi added that this year’s report by the Director General of the Arab Labour Organization highlights a real challenge: the failure of economic growth rates to positively reflect on social development, unemployment, and poverty levels in Arab countries.
He clarified that the Arab Labour Conference is discussing several important technical issues, including an item on “Climate Change and Its Impact on the Work Environment,” emphasizing the importance of transitioning toward a low-emission Arab economy and the need to adopt a realistic approach based on a diverse mix of energy sources, combining fossil fuels and renewable energy, to ensure energy security, continuity, and affordability.
In this context, he pointed out that transitioning to a low-emission economy does not mean completely abandoning fossil fuels; rather, the solution lies in reducing emission intensity and improving usage efficiency.
He added that the Chamber will highlight during the conference the need to be cautious about imposing strict unilateral environmental regulations, which could cause national industries to lose their competitive edge against countries and blocs that do not adhere to the same environmental standards.
The Assistant General Manager of the Kuwait Chamber of Commerce and Industry noted that the conference will also discuss an item on startups, which offer promising opportunities to contribute to transforming core activities into the digital space.
He added that the Chamber will express concern that attention to these companies might come at the expense of supporting traditional small and medium-sized enterprises (SMEs), as the latter are the primary and most important drivers of job creation, whereas many emerging digital companies rely on technological solutions that often involve workforce reductions.
He called for supporting and encouraging all entrepreneurial and innovative initiatives across all sectors, whether digital, industrial, or environmental, and stressed that the concept of entrepreneurship should not be limited solely to startups.
The Arab Labour Conference, which began on Sunday and will continue until September 20, represents an important opportunity for Arab countries to exchange experiences and expertise and to discuss common challenges facing labor markets, as well as ways to enhance employment opportunities and reduce unemployment.
