Economy of the Arab League
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The Arab League is rich in resources, with enormous Oil and Natural Gas resources, it also has great fertile lands in South of the Sudan, usually referred to as the food basket of the Arab World, the region's instability has not affected its tourism industry, that is considered the fastest growing industry in the region, with Egypt, UAE, Lebanon, Tunisia and Jordan leading the way. Another industry that is growing steadily in the Arab League is Telecommunications. Within less then a decade, local companies such as Orascom and Etisalat have managed to compete internationally.
Economical achievements within members have been low in the league's history, other smaller Arab Organizations have achieved more than the league has, such as the GCC, but lately several major economic projects that are promising are to be completed, the Arab Gas Pipeline is to end by the year 2010, Connecting Egyptian and Iraqi Gas to Jordan, Syria and Lebanon, and then to Turkey thus Europe , a free trade Agreement(GAFTA) is to be completed by 1st of January 2008, making 95% of all Arab Products tax free of customs.
The Economical development in the Arab League is very diverse. There is a significant difference between on one hand the rich oil states of the UAE, Qatar, Kuwait, and Bahrain and on the other hand the poor countries like the Comoros, Mauritania and Djibouti.
