![]() ![]() ![]() These outcomes reveal serious competitiveness issues and suggest that the region has missed opportunities to integrate into the world economy, increase growth, and create new productive jobs (World Economic Forum 2005). The protests turned into political upheavals.Īlthough countries in the Middle East and North Africa (MENA) region have made progress in recent years in exploiting comparative advantage, the share of the MENA region in total world exports of non-oil goods has remained under 1% for more than 30 years, and despite doubling its services exports, MENA’s share in total services trade has also stagnated at around 2.8% during 1990-2006 (World Bank 2010). The Summit made no major leaps forward on trade integration but the novelty was that it came at a time when widespread popular protests in many Arab countries began to surface, focusing on the lack of civil and political liberties, the lack of economic opportunities-including high unemployment – and rampant corruption. It took place against the backdrop of an Arab world in turmoil that keeps losing ground in the globalised world economy. On 19 January 2011, the second Arab Economic, Social, and Development Summit that was held in Sharm El-Sheikh, Egypt. ![]()
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