From Political to Economic Awakening in the Arab World : The Path of Economic Integration - Deauville Partnership Report on Trade and Foreign Direct Investment, Volume 1. Overview Report

The forces unleashed by the Arab political awakening have the power to be transformational. One critical parameter of success will be whether the Arab political awakening is accompanied by a concurrent economic awakening. Economic integration through increased trade and foreign direct investment (FDI) is one key means available in the short to medium term to policy makers to put the Partnership countries on a higher path of sustainable economic growth and in a position to decisively tackle the problem of unemployment, especially youth unemployment. To be sure, skepticism abounds in the region over the merits of trade and FDI and the integrity of the private sector in light of "crony capitalism," where the benefits of past policies are perceived to have accrued only to a well-connected few. Leadership is needed in both Partnership countries and Deauville partners to provide a credible long-term vision and explain the mutual benefits of economic integration. One such powerful vision could be the pursuit of a partnership aimed at gradually promoting four key freedoms in the Mediterranean and beyond: the free movement of goods, services, capital, and eventually persons. The implementation of far-reaching domestic reforms in Partnership countries will be critical to effectively reap the growth and employment opportunities offered by greater economic integration and regulatory convergence with the most advanced economies. To further enhance trade and FDI and to achieve the vision of an Arab world more integrated into global markets, the trade and commerce pillar of the Deauville Partnership could therefore focus on four overarching priority areas of reforms and support: (a) improve market access opportunities and market regulations; (b) foster competitiveness, diversification, and employment; (c) facilitate trade and mobilize trade finance and diaspora resources; and (d) promote the inclusiveness, equity, and sustainability of the structural transformation brought about by the process of integration.

Bibliographic Details

Main Author:	World Bank
Language:	English en_US
Published:	Washington, DC 2012-05
Subjects:	ACCESS TO INFORMATION, ADVANCED ECONOMIES, ADVERSE CONSEQUENCES, AGREEMENT ON TRADE, AGRICULTURE, BARRIERS, BENEFITS, BILATERAL TRADE, BONDS, BUDGETARY SUPPORT, BUSINESS CLIMATE, BUSINESS ENVIRONMENT, CAPACITY BUILDING, CAPITAL ACCUMULATION, CLIMATE CHANGE, COMMODITY, COMMON MARKET, COMMUNICATION, COMMUNICATION TECHNOLOGIES, COMMUNICATIONS, COMMUNICATIONS TECHNOLOGY, COMPARATIVE ADVANTAGE, COMPARATIVE ADVANTAGES, COMPETITION, COMPETITION POLICY, COMPETITIVENESS, COMPLIANCE COSTS, CONNECTIVITY, CONSUMERS, CREDIT, CRITERIA, CUSTOMERS, CUSTOMS UNION, DEMOCRACIES, DEREGULATION, DEVELOPED COUNTRIES, DEVELOPING COUNTRIES, DEVELOPING COUNTRY, DEVELOPMENT PATH, DEVELOPMENT POLICY, DEVELOPMENT PROJECTS, DEVELOPMENT STRATEGIES, DEVELOPMENT STRATEGY, DIVIDENDS, DOMESTIC MARKET, DOMESTIC MARKETS, ECONOMIC CONDITIONS, ECONOMIC COOPERATION, ECONOMIC DEVELOPMENT, ECONOMIC EFFICIENCY, ECONOMIC GROWTH, ECONOMIC INTEGRATION, ECONOMIC LIBERALIZATION, ECONOMIC PERFORMANCE, ECONOMIC RELATIONS, ECONOMIC RESEARCH, ECONOMIC SECTORS, ECONOMIC STABILIZATION, ECONOMIES, ECONOMIES OF SCALE, EFFICIENCY, EMERGING ECONOMIES, ENERGY EXPORTS, ENVIRONMENT, ENVIRONMENTAL, ENVIRONMENTAL PROTECTION, EQUITY, EXCHANGES, EXPECTATIONS, EXPORT CREDIT, FACTORS OF PRODUCTION, FAILURES, FARMS, FINANCE PRODUCTS, FINANCIAL CRISIS, FINANCIAL INSTITUTIONS, FINANCIAL INSTRUMENTS, FINANCIAL REFORMS, FINANCIAL RESOURCES, FISHERIES, FLOW OF CAPITAL, FOOD POLICY RESEARCH, FOREIGN DIRECT INVESTMENT, FOREIGN EXCHANGE, FOSSIL FUELS, FREE TRADE, FREE TRADE AGREEMENT, FREE TRADE AGREEMENTS, FREE TRADE AREA, FUTURE, GDP, GDP PER CAPITA, GLOBAL ECONOMY, GLOBAL MARKET, GLOBAL MARKETS, GLOBALIZATION, GOVERNANCE, GOVERNMENT ACTION, GROSS DOMESTIC PRODUCT, GROWTH RATES, HIGH UNEMPLOYMENT, HUMAN RIGHTS, INCOMES, INFLATIONARY PRESSURE, INFLUENCE, INFORMAL ECONOMY, INPUTS, INSURANCE, INSURANCE PRODUCTS, INTELLECTUAL PROPERTY, INTEREST, INTERESTS, INTERMEDIATE GOODS, INTERNATIONAL BEST PRACTICES, INTERNATIONAL COOPERATION, INTERNATIONAL MARKETS, INTERNATIONAL TRADE, INVESTMENT BARRIERS, INVESTMENT CLIMATE, INVESTMENT OPPORTUNITIES, INVESTMENT POLICY, INVESTMENTS, INVESTORS, JOB CREATION, JUDICIAL REFORMS, KNOWLEDGE ECONOMY, LABOR FORCE, LABOR MARKET, LAND, LINE OF CREDIT, MACROECONOMIC STABILITY, MARKET ACCESS, MARKET ECONOMIES, MARKET REGULATIONS, MUTUAL RECOGNITION, NATIONAL INCOME, NEGATIVE EXTERNALITIES, NEW MARKETS, OIL, OIL IMPORTERS, OIL SECTOR, OPEC, OPEN MARKET ECONOMIES, OUTCOMES, OUTPUTS, PER CAPITA INCOMES, POLICY INSTRUMENTS, POLICY MAKERS, POLITICAL ECONOMY, POLITICAL SYSTEM, POVERTY ALLEVIATION, PREFERENTIAL TRADE, PREFERENTIAL TRADE AGREEMENT, PRICE, PRICES, PRIVATE SECTOR DEVELOPMENT, PRIVATE SECTOR GROWTH, PRIVATIZATION, PRODUCTIVITY, PROPERTY, PUBLIC GOODS, PUBLIC POLICIES, PUBLIC POLICY, PUBLIC-PRIVATE PARTNERSHIPS, QUOTAS, REAL ESTATE, RED TAPE, REGIONAL INTEGRATION, REGIONAL POWERS, REGIONAL TRADE, REGULATORY AGENCIES, REGULATORY CONVERGENCE, REGULATORY ENVIRONMENT, REMOTE REGIONS, RENEWABLE ENERGY, RENT, RENT SEEKING, RESOURCES, REVENUES, SAVING, SAVINGS, SECURITY, SECURITY CONCERNS, SHARE, SKILLED WORKERS, SOCIAL DEVELOPMENT, SOCIAL PROTECTION, STRUCTURAL CHANGE, SUBSIDIES, SUSTAINABLE ECONOMIC GROWTH, SUSTAINABLE GROWTH, TARIFFS, TECHNICAL ASSISTANCE, TECHNOLOGICAL CHANGES, TECHNOLOGICAL PROGRESS, TECHNOLOGY TRANSFER, TELECOMMUNICATIONS, TERMS OF TRADE, TRADE, TRADE FACILITATION, TRADE FINANCE, TRADE LIBERALIZATION, TRADE NEGOTIATIONS, TRADE POLICY, TRADE RELATIONSHIPS, TRADING BLOCS, TRADING SYSTEM, TRANSPARENCY, TRENDS, UNEMPLOYMENT, UNEMPLOYMENT RATE, UNEMPLOYMENT RATES, UTILITY, VALUE, VALUES, VENTURE CAPITAL, VENTURE CAPITAL FUNDS, WAGES, WEALTH, WEALTH CREATION, WELFARE, WORLD DEVELOPMENT INDICATORS, WORLD ECONOMY, WORLD TRADE, WORLD TRADE ORGANIZATION, WTO,
Online Access:	http://documents.worldbank.org/curated/en/2012/05/16283799/political-economic-awakening-arab-world-path-economic-integration-deauville-partnership-report-trade-foreign-direct-investment-vol-1-2-overview-report https://hdl.handle.net/10986/11886
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