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The Arab countries are facing the urgent need to eradicate poverty, especially in light of the changing global economic balance, said World Bank First Vice-President Mahmoud Mohieldin, Anatolia news agency reported.
Speaking at the opening of the Arab economic development summit in Beirut, Mohieldin said the summit is taking place amid economic fragility, underlining that the Arab economy is undergoing many changes in light of developments such as human shifts, climate change, acceleration of technology and others.
He stressed that the Arab world, the highest unemployment rate in the world, said that "Arab society is a youth society and should be used for these standards in human development", noting that there are obstacles in Arab trade and problems in standard.
Mohieldin suggested that there should be integrated strategies for e-commerce, adding that "sustainable development will only progress in the development of science and the use of technology".
On Sunday, Lebanese President Michel Aoun said at the opening of the summit that his country had to face the greatest burden of hosting Syrian and Palestinian refugees.
The fourth Arab economic, social and development summit was launched in Beirut after the absence of six years from the economic summit held in Riyadh 2013, with only three leaders present.
The leaders of the Beirut Summit, together with Lebanese President Michel Aoun, the Emir of Qatar, Tamim Bin Hamad Al Thani and Mauritanian President Mohamed Ould Abdel Aziz, are represented at the leader level, while other countries are represented from heads of government or ministers.
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