Egyptian Prime Minister Ahmed Nazef on Saturday called on Arab governments to exert collective efforts in face of the negative impact of the current international financial crisis, the state MENA news agency reported.
Speaking at the 12th Arab Business Forum, Nazef said that it's necessary for the Arab world to reach integration of economic activities to ride out the current global financial crisis.
Arab governments should give priority to regional companies to invest in the Arab world that have the largest energy reserve in the world, said Nazef.
It's necessary for the Arabs to reach integration in the fields of infrastructure, such as roads and railways, and energy, added Nazef.
Commenting on the Egyptian economy, Nazef said the economic growth rates in the country reached an average rate of seven percent increase annually in the past three years.
Egypt is trying to maintain the high growth rates as the populous country is facing the biggest challenge when the whole world is heading toward an economic slowdown, noted the Egyptian prime minister.
According to earlier reports, the current global financial turmoil may slow down Egypt's economic growth rate from more than 7 percent to 6 percent.
Source: Xinhua
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