KUWAIT CITY [ ABN NEWS ] — 3rd Arab-African Summit: Partners in Development and Investment(Forimmediaterelease.net) Under the theme of “Partners in Development and Investment,” the 3rd Arab-African Summit was held from November 19-20, 2013, in Kuwait City in the State of Kuwait. Seychelles Vice President Faure represented President James Michel of the Seychelles at the summit.
Vice President Danny Faure expressed his profound gratitude to his Highness the Amir of the State of Kuwait Sheikh Sabah Al-Ahmad Al Jaber Al-Sabah for his generous initiative for the Kuwait Fund for the Arab-Economic Development to grant concessionary loans to African countries to the amount of US$1 billion over the next 5 years.
This initiative is also manifested through investment and its insurance amounting to US$1 million for the next few years, with emphasis on infrastructure, through cooperation and coordination with the World Bank and other international institutions.
The Vice President of the Seychelles described the summit as an historical one that will further strengthen the partnership between Africa and the Arab world.
In his address to the Summit, the Seychelles Vice President highlighted the importance of the Arab world to the African continent. He stressed that the Arab world has been a loyal partner to the African continent on its road to socio-economic development. He further added that the Afro-Arabic relationship is one of the world’s oldest examples of exchanges having existed between two civilizations.
He pointed to the fact that the 50th anniversary of the African Union is being celebrated this year, and this summit showcases to the whole world a shining example of the vitality of the long-standing partnership between the Arab world and the African continent.
In looking towards elaborating new development targets for post 2015, the Vice President called for more concrete and effective measures to expand cooperation in economy and trade, energy, investment, finance, agricultural development, tourism, and human resources development. These, he added, will bring renewed impetus to the long-standing ties between Seychelles and the Arab countries.
He reiterated Seychelles’ appreciation and vital engagement of the Arab world in the region and their understanding that small island developing states, like Seychelles, remain very vulnerable to external shocks and need to be supported in maintaining their achievements.
Regarding the importance of the ocean to Seychelles’ economic development, Vice President Faure stated that the “sea is to Seychelles what land is to most other African states; it is a depository of our resources; it holds the promise of our economic potentials. This overriding importance of the ocean is reflected in the ‘blue economy’ initiative that Seychelles is championing under the auspices of the United Nations.”
In the same vein, he underscored the need to protect our oceans, which is essential to sustain human life firstly and the very existence of island and coastal states. This also underlines the need for their sustainable development through intelligent exploitation of resources found in the oceans.
Edited by Jose H Oliveira Jr
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