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RIYADH: Deals worth over $7.68 million were signed among 31 entities from 17 Arab countries at the Arab League Forum for Business and Partnerships held in Tunisia.
The debut event of the Arab League Educational, Cultural and Scientific Organization marked a remarkable financial milestone, according to a statement.
The two-day conference also marked the initiation of 40 projects resulting from these collaborations.
The $7.68 million from the signed partnerships make up 84 percent of the organization’s annual budget, establishing the conference as a qualitative working model focusing on specific projects with clear timelines, objectives, and measurable outcomes, which played a significant role in attracting collaborations.
Hani Al-Muqbil, chairman of the executive board of ALECSO and chairman of the supreme committee of ALECSO Forum for Business and Partnerships, emphasized the organization’s success through the number of partnerships established.
The statement said that the “high-quality collaborations”, spanning across countries and various fields, offer “beneficial programs that enhance cooperation among Arab nations.”
Hani Al-Muqbil speaking at the event. Supplied.
Of the 40 projects signed during the forum, Saudi entities claimed the majority share with 36 percent. Morocco secured 9 percent, followed by Tunisia with 7 percent, Yemen with 7 percent, and Jordan with 4 percent.
Palestine, Kuwait, Djibouti, Sudan, and Syria each secured 2 percent, contributing to the partnerships alongside Somalia, Iraq, Qatar, Lebanon, Libya, Egypt, and Mauritania.
The diversity of joint ventures and the substantial financial commitments signal a promising era for ALECSO’s initiatives, reinforcing its position as a key player in fostering collaboration and development across the Arab world.
The ALECSO Forum for Business and Partnerships, an initiative spearheaded by Saudi Arabia and endorsed by ALECSO’s executive council, has evolved into a collaborative Arab endeavor following a meeting held in AlUla in January 2022.
Mohamed Ould Ammar, director general of ALECSO, hailed the forum as a “momentous achievement in the history of Arab collaboration,” according to the press release.
He also expressed gratitude to Saudi Arabia and its “forward-thinking leaders for initiating this forum to strengthen Arab cooperation,” the statement said.