Arab agricultural trade exchange volume recorded a significant leap forward over the past four years, reports Qatar-based Al Sharq.
Arab agricultural exports increased from $5.2 billion in 2000 to roughly $35bn in 2014, while Arab agricultural imports increased from $27.9bn to $119bn during the same period.
Dr Abdulrahman bin Abdullah Al-Hamidi, director general and chairman of the Arab Monetary Fund (AMF), says: “The agricultural sector is one of the important sectors in the economies, especially, developing ones, and it caters to consumers’ food needs and provides the raw materials for many manufacturing industries.”
Al-Hamidi made his remarks on Tuesday, during a press conference, held in Abu Dhabi, on the sidelines of the “agriculture agreements”, convened by the Arab Monetary Fund in cooperation with the World Trade Organisation.
He adds that, in the Arab countries, the agricultural sector provides jobs for a relatively high proportion of the community. The proportion of agricultural workers amounted to 22.6 per cent of the total labour force in Arab countries, in 2014.
($1 = AED 3.67, at the time of publishing)