Easiest way would be to roll back tariffs that get in way of freer trade within MenaBetter integration between Middle East and North African economies and that of Pakistan could unlock $2.5 trillion in (combined) GDP Image Credit: PixabayStaff ReportDubai: Better integration between Middle East and North African economies and that of Pakistan could “unlock $2.5 trillion in (combined) GDP” and create up to 100 million new jobs. “Trade costs (including costs related to transportation, time delays, border controls) represent 20-40 per cent of the final delivered price for Middle East North Africa’s non-oil exports. The report reckons that a majority of this — about $125 billion — can be derived from pulling back non-tariff barriers. Fast-track on deregulationApart from freer flow of trade, another area Middle East economies could improve upon is regulation of key sector — even a “selective” one would do. According to Alain Bejjani, CEO at Majid Al Futtaim — Holding, “The MENAP region has a huge opportunity to accelerate economic growth and unlock the potential of its people through better integration of its markets.

Source: The North Africa Journal January 27, 2020 12:45 UTC