A shift in the economic growth model is nowhere more apparent than in the fast developing economies of 17-member Greater Arab Free Trade Area (GAFTA) with their renewed focus on regional trade and investment opportunities, said Khalil bin Abdullah al Khonji, Chairman, Oman Chamber of Commerce and Industry (OCCI).
“As one of the active members, the Sultanate is committed to strengthening its engagement with GAFTA countries,” Al Khonji told the Observer in an exclusive interview. He also urged the countries that form the GAFTA group to further deepen co-operation to cope with risks brought by global economic uncertainties.
GAFTA economic area, which is fully integrated now, is becoming one of the main growth drivers in regional markets. It is hard to overstate the growing strength and influence of the GAFTA region, which is benefitting from rising foreign investment, strong retail demand and expansionary government spending on major infrastructure projects.
Read more: http://www.gulfbase.com/news/gafta-a-boon-for-inter-arab-trade/229328
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