Arab Economic Area

EENI- School of International Business

Subject: The Arab Economic Area of the Islamic Civilisation. Syllabus:

1. Introduction to the Arab Economic Area as part of the Islamic Civilisation
2. Islam as the unifying factor of the Arab Economic Area
3. The Economic Profile of the Arab Countries
4. Business people in the Arab Economic Area
5. Interactions of the Arab Economic Area with the economic areas of the other civilisations
6. Economic institutions related to the Arab Economic Area

The objectives of the subject “The Arab Economic Area” are the following:

1. To define the economic characteristics of the Arab Economic Area
2. To understand the influence of Islam on the Arab Economic Area
3. To know the economic profile of the Arab Countries
4. To understand the processes of economic integration in the Arab Economic Area
5. To analyse the main Arab Business People
6. To explore the economic relationships with the others economic areas of others civilisations
7. To analyse the main economic organisations related to the Arab Economic Area

Description of the Subject: The Arab Economic Area.

The Arab Economic Area (the Middle East) consists of twelve Arab Countries:

1. The six countries of the Gulf Cooperation Council (GCC): Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the United Arab Emirates
2. The six Arab Countries not members of the Gulf Cooperation Council: Iraq, Jordan, Lebanon, Palestine, Syria, and Yemen

1. Islam is the main religion of the Arab Economic Area
2. There are Christian minorities in the region: The Eastern Catholic Churches (Chaldeans, Maronites)
3. Arab is the main language in the region
4. The largest economy (GDP) is Saudi Arabia and the Central State
5. All the Arab Countries were former colonies (United Kingdom, Turkey, and France)
6. Absolute instability in Syria

EENI delivers to HRH Prince Alwaleed bin Talal a Master Honoris Causa

The main Arab Business People in the Arab Economic Area are HRH Prince Alwaleed bin Talal, Mohamed Bin Issa Al Jaber, Mohammed Hussein Ali Al-Amoudi, Yusuf Bin Ahmed Kanoo, Mohammed Al-Barwani, Jawad Ahmed Bukhamseen, Abdul Aziz Ghurair, Sulaiman Al-Rajhi, Majid Al Futtaim, Nasser Al Kharafi, and Nadhmi Shakir Auchi.

The main Arab Businesswomen of the Arab Economic Area are Lubna Olayan, Shaikha Al Bahar, Amina Al Rustamani, Shaikha Al Maskari, Maha Al-Ghunaim, Randa Ayoubi, Nayla Hayek, and Ayah Bdeir.

Arab Personalities: Lubna Bint Khalid Al Qasimi, Tawakkol Karman, Haifa Al-Mansour, Hayat Sindi, Reem Ebrahim Al-Hashimi, and Hanan Al Kuwari.

The Economic Integration of the Arab Economic Area.

The main Arab integration project is the Gulf Cooperation Council (GCC).

1. All the Arab Countries are members of the Greater Arab Free-Trade Area
2. All the Arab Countries are members of the Economic and Social Commission for Western Asia (ESCWA)

The main integration agreements and free trade agreements with the others economic areas of the Islamic Civilisation are:

1. The Trade Preferential System (OIC-TPS)
   1. The Arab Countries that have signed the Trade Preferential System (Framework Agreement + PRETAS + Rules of origin) are Bahrain, Jordan, Kuwait, Oman, Qatar, Saudi Arabia, Syria, and the United Arab Emirates
   2. Palestine only has signed the Framework Agreement + PRETAS
   3. Yemen is not a member of the Trade Preferential System
2. Jordan is part of the Arab Mediterranean Free Trade Agreement (with Egypt, Morocco, and Tunisia)
3. Jordan has free trade agreements (FTA) with Algeria, Libya, Malaysia, Turkey, and Tunisia

Economic Organisations related to the Arab Economic Area.

1. The Organisation of Islamic Cooperation (OIC)
   1. The Committee for Economic and Commercial Cooperation
   2. The Islamic Centre for the Development of Trade
   3. The Islamic Chamber of Commerce and Industry
   4. The Economic and Social Research and Training Centre
2. The Islamic Development Bank
3. The Arab League

The Arab Development Funds.

1. The Arab Fund for Economic and Social Development
2. The Arab Monetary Fund
3. The Arab Trade Financing Programme
4. The Saudi Fund for Development
5. The Arab Gulf Programme (AGFUND)
6. The Kuwait Fund for Arab Economic Development
7. The OPEC Fund for International Development
8. The Abu Dhabi Fund for Development

The Interactions of the Arab Economic Area of the Islamic Civilisation with the Western Civilisation

1. With the European Economic Area
   1. The European Union
      1. The European Union has trade agreements with the Gulf Cooperation Council, Jordan, Lebanon, the Palestinian Authority, and Syria
      2. Jordan, Lebanon, Palestine and Syria are members of the European Neighbourhood Policy of the European Union
      3. Yemen is a beneficiary of the Generalised System of Preferences and the European Investment Bank of the EU
      4. Palestine, Jordan, Lebanon, and Syria are members of the Euro-Mediterranean Partnership
   2. The European Free Trade Association has free trade agreements (FTA) with the Gulf Cooperation Council, Jordan, Lebanon
2. With the American Economic Area
   1. North American
      1. The United States has trade agreements with Oman, Bahrain, and Jordan
      2. Canada has a Free Trade Agreement with Jordan
   2. Latin American
      1. All the countries of the Arab League are part of the Summit of South American-Arab Countries (ASPA)
      2. The Gulf Cooperation Council plans to sign an agreement with the MERCOSUR.
   3. No Arab Country has Trade Agreements with the Caribbean Countries
3. With the Economic Area of Oceania
   1. Australia has a Free Trade Agreement with the Gulf Cooperation Council (GCC)

The Interactions of the Arab Economic Area of the Islamic Civilisation with the African Civilisation

1. All the Arab Countries are part of the Afro-Arab Cooperation and therefore of the Arab Bank for Economic Development in Africa (BADEA)
2. Jordan has a Free Trade Agreement with Egypt

The Interactions of the Arab Economic Area of the Islamic Civilisation with the Hindu Civilisation

1. India has a free trade agreement (FTA) with the Gulf Cooperation Council

The Interactions of the Arab Economic Area of the Islamic Civilisation with the Orthodox Civilisation

1. There is not an FTA of the Arab Countries with this Civilisation

The Interactions of the Arab Economic Area of the Islamic Civilisation with the Buddhist Civilisation

1. Singapore has an FTAs with the Gulf Cooperation Council and Jordan

The Interactions of the Arab Economic Area of the Islamic Civilisation with the Sinic Civilisation.

1. There is not an FTA of the Arab Countries with the Sinic Civilisation

Inter-civilisations Agreements of the Arab Economic Area.

1. Oman, the United Arab Emirates, and Yemen are part of the Indian-Ocean Rim Association (IORA)
2. Asia-Middle East Dialogue (AMED)
3. Saudi Arabia, Bahrain, the United Arab Emirates (EAU), Kuwait, Oman, and Qatar are members of the Asia Cooperation Dialogue (ACD)

❮ Samples - Arab Economic Area ❯

1. Economic Integration of the Islamic Civilisation
2. Interactions of the Islamic Civilisation with the other civilisations
3. Central Eurasian Economic Area