Asia-Middle East Dialogue (AMED)

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The Asia-Middle East Dialogue (AMED)

Background

     The Asia-Middle East Dialogue (AMED) was conceived to foster dialogue and mutual understanding as well as strengthen co-operation between Asia and the Middle East in different areas.
 
     Asia and the Middle East have long been the cradle and crossroads of major civilizations.  Now, with the forces of globalization stronger than ever, both regions are contending with new political, economic, and social changes that shape their paths of development.  AMED provides a forum where a closer interaction and enhanced dialogue between the two regions can be fostered, enabling both sides to leverage on each other's strengths for mutual benefit. It will also provide a platform for all voices of moderation to be heard at a time when global events are polarising views about religion.  In such a climate, tolerance, inter-faith understanding and dialogue among civilizations are crucial for stabilization.

The Working Group on Economic Issues

     At the Inaugural Asia Middle East Dialogue (AMED) in Singapore, participants recognized that it was imperative to increase mutual understanding and promote greater interactions between Asia and the Middle East.  Several sectors with high potential for enhancing economic links have been identified, and the Working Group on Economic Issues has been established to pursue cooperation in concrete terms, with   Thailand and Egypt as co-chairs during the biennium 2005-2007. 

AMED is open to participants from the following countries:

1. Afghanistan
2. Algeria
3. Bahrain
4. Bangladesh
5. Bhutan
6. Brunei
7. Cambodia
8. China
9. Comoros
10. Djibouti
11. Egypt
12. India
13. Indonesia
14. Iran
15. Iraq
16. Japan
17. Jordan
18. Kazakhstan
19. Kuwait
20. Kyrgyzstan
21. Laos
22. Lebanon
23. Libya
24. Malaysia
25. Maldives
26. Mauritania
27. Morocco
28. Myanmar
29. Nepal
30. Oman
31. Pakistan
32. Palestinian National Authority
33. Philippines
34. Qatar
35. Republic of Korea
36. Saudi Arabia
37. Singapore
38. Somalia
39. Sri Lanka
40. Sudan
41. Syria
42. Tajikistan
43. Thailand
44. Tunisia
45. Turkey
46. Turkmenistan
47. United Arab Emirates
48. Uzbekistan
49. Vietnam
50. Yemen

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Working Group on Economic Issues

Background

At the Inaugural Asia Middle East Dialogue (AMED), participants recognized that it was imperative to increase mutual understanding and promote greater interactions between Asia and the Middle East. The potentials of the rewards of a positive and a healthy collaborative environment are numerous, especially when the stakeholders involved represent a portfolio of entities that reflects different segments of the community including (but not limited to) the government, the private sector and the civil society. In this regard, AMED can play an invaluable role in promoting and fostering private sector cooperation, and it is believed that the Arab Business Council (ABC) could play a pivotal part in such process. Several sectors with high potential for enhancing economic links have been identified, and the Working Group on Economic Issues has been established to pursue cooperation in concrete terms.

Objectives and expected outcomes

Recognizing that the private sector is the engine of economic activities and growth, the Working Group aims to strengthen linkages between entrepreneurs and business communities in Asia and the Middle- East.  Business leaders and representatives will thus be encouraged to actively participate in meetings of the Working Group and propose initiatives that could stimulate business contacts and collaboration.  Under this framework, the role of the government sector is to be a facilitator in providing a conducive policy framework and platforms for networking and information sharing.

Possible means to achieve these objectives can be divided into two main areas:

1.       On trade and investment promotion and facilitation, the Working Group may consider:

1.1     Institutionalizing and regularizing an Asia-Middle East business seminar;

1.2     Stimulating greater participation among business leaders of both regions; raising the awareness among investors and corporations about investment opportunities;

1.3     Promoting greater trade in goods and services, including financial services, via bilateral and multilateral trade negotiations;

1.4     Organizing capacity-building workshop on Free Trade Agreements.

2.       On the development of financial products and market structure, the Working Group may consider:

2.1     Devising mechanisms for cooperation in capacity building and experience sharing between regulatory authorities, using cutting-edge information and communication technology to facilitate such exercise;

2.2     Conducting research and development in risk- management techniques via seminars and capacity development workshops.

Process and modality of the Working Group  

Before the second Ministerial Meeting (AMED II) in 2007, the Working Group aims to meet twice. Thailand will host the 1st WG Meeting on 3-4 July 2006, and Egypt will host the 2nd WG Meeting at a mutually convenient time. 

Results from the meetings, subsequent activities and work plans are to be reported to the Steering Committee prior to AMED II. 

1st Working Group Meeting : 3-4 July 2006, Bangkok

The First WG Meeting will be instrumental in promoting greater awareness of potential areas of economic partnership and lay the ground work for closer interactions among business communities in Asia and the Middle East. The main aim is to make contact and exchange general economic information about each region, as well as specific information needed to facilitate greater inter-regional business links.

To enhance the enabling environment for cooperation in the areas of trade, investment and financial services, discussions in the Working Group will focus on specific proposals for policy reforms. The liberalization of trade and services should be the central issue of such discussions. Proposals of concrete and deliverable cooperative projects in key areas of interest, some of which have already been identified at the Inaugural AMED, will be further developed.

It is also expected that the concept paper and the work plan for future activites, including identified project proposals, will be endorsed by the Working Group.