With the participation of Iraq .. establishment of an Arab electricity market

2016/9/9 14:44

[Oan- follow-up]

Assistant Secretary General for Economic Affairs at the Arab League Ambassador Mohamed Al-Tuwaijri said on Friday that the Arab foreign ministers have agreed to a memorandum of understanding for the establishment of an Arab common market for electricity.

Tuwaijri said in a statement on the sidelines of the 146 session of foreign ministers on Thursday that ", this consent comes from the desire of the Arab countries in achieving further progress in the electricity trade within the regional linkage groups."

He said these groups Maghreb countries, including Tunisia, Algeria, Morocco, linking regional Eight between Egypt, Iraq, Jordan, Libya, Lebanon, Palestine, Syria, Turkey and the network of the Gulf Cooperation Council that will allow the exchange of electricity between the six countries in which Kuwait, Saudi Arabia, Bahrain, Qatar, UAE and Oman.

Tuwaijri said that "this market aims to achieve the best results in the short and long term supply of electricity on a regional basis in Arabic, not only on a national basis."

He said the overall timetable for the establishment of this market includes the foundational stage in collaboration with the World Bank and the Arab Fund for Economic and Social Development is dedicated to the study of the technical and economic feasibility for the promotion and expansion of the IT infrastructure of the Arab Common Market for Electricity and the development of institutional and legislative frameworks for the years [2010 - 2018], followed by four transitional phases stretching from [2019 - 2038] to design and expand the market to reach the Arab electricity grid electrode connecting full sync. "