Bahrini PM: Enhancing arab economic cooperation is a necessity

His Royal Highness Prime Minister Prince Khalifa bin Salman Al Khalifa has affirmed that activating Arab cooperation in the economic and banking fields has become a necessity amid the instable world financial and economic situation and in light of the current developments in the Arab Nation, which, he said, do not serve Arab interests, in order to achieve stability across the Arab World, calling for the need to be more vigilant and be aware of the repercussions of what is going on politically, economically and socially.Wars, greed and interests represent real challenges impeding Arab economic progress and, therefore, have to be removed through cooperation and coordination at all levels, especially the economic and political ones," he said, stressing that economy should come first and then politics."Politics will not be effective without a solid economy," he added, stressing that the activation of Arab economic cooperation has become imperative.HRH Premier underlined that Arab resources are plenty and diverse and are capable to ensure that Arab countries enjoy a solid and stable financial and banking systems, emphasizing that cooperation should be translated into the ground so as to reflect positively on reality.HRH Premier voiced the stances when he received today, at his Palace in Riffa, the Union of Arab Banks (UAB) President Adnan bin Ahmad Yousif and members of its Board of Directors.HRH Premier asserted that the challenges currently faced by the region require its countries to step up their coordination and joint action so as to safeguard their security and stability, consolidate their efforts to achieve sustainable development goals that meet their peoples' aspirations, adding that a thorough study of the rapid world developments is the best way to develop reliable future plans and put forward a clear vision on how to deal with the negative impacts and repercussions of those changes.The world around us is changing, and as Arab countries, we have to help each other and not wait for others to help us if we want to continue the renaissance march in order to meet our peoples' aspirations for a more prosperous future," he said.HRH Prime Minister welcomed the kingdom's hosting of the UAB's annual conference whose visions and initiatives, he said, can enhance and strengthen the development march across the Arab World, highlighting the importance of such conferences and gatherings in converging views and increasing coordination for the common interest of Arab peoples.On their part, UAB President and members lauded HRH Premier's constant support for UAB and its activities, adding that HRH's long experience and sound visions have entitled Bahrain to achieve leading positions in human resources development reports and international economic indices.They also expressed delight at holding UAB's annual conference in Bahrain which, they, said, is an outstanding financial and economic hub in the region.The Governor of the Central Bank of Bahrain (CBB) Rasheed bin Mohammed AL-Miraj commended HRH Premier's tremendous efforts to promote the kingdom as a regional, Arab and global financial and banking centre, crediting HRH Premier for being able to maintain the stability of the kingdom's financial and banking sectors despite the financial downturn witnessed by the world over the past years thanks to his far-sighted and wise economic visions.