BR100 Decreased By (-0.81%)
BR30 Decreased By (-1.11%)
KSE100 Decreased By (-0.81%)
KSE30 Decreased By (-0.81%)
AGHA 7.59 Decreased By ▼ -0.10 (-1.3%)
BECO 5.51 Increased By ▲ 0.27 (5.15%)
BML 59.08 Decreased By ▼ -1.14 (-1.89%)
BOP 34.11 Decreased By ▼ -1.17 (-3.32%)
CNERGY 12.84 Decreased By ▼ -0.29 (-2.21%)
CSIL 6.10 Decreased By ▼ -0.01 (-0.16%)
FCCL 57.66 Decreased By ▼ -0.31 (-0.53%)
FFL 16.20 Decreased By ▼ -0.22 (-1.34%)
FNEL 1.21 Increased By ▲ 0.01 (0.83%)
KEL 7.48 No Change ▼ 0.00 (0%)
KOSM 5.94 Decreased By ▼ -0.10 (-1.66%)
LOTCHEM 27.99 Increased By ▲ 0.24 (0.86%)
MLCF 100.65 Decreased By ▼ -2.33 (-2.26%)
NBP 203.75 Decreased By ▼ -2.29 (-1.11%)
NCPL 60.57 Decreased By ▼ -1.67 (-2.68%)
NPL 69.96 Decreased By ▼ -1.33 (-1.87%)
OGDC 320.29 Decreased By ▼ -3.49 (-1.08%)
PACE 11.10 Decreased By ▼ -0.41 (-3.56%)
PAEL 43.12 Decreased By ▼ -0.78 (-1.78%)
PIBTL 16.56 Decreased By ▼ -0.12 (-0.72%)
PPL 228.84 Decreased By ▼ -0.63 (-0.27%)
PRL 71.02 Increased By ▲ 0.91 (1.3%)
PTC 71.65 Decreased By ▼ -0.50 (-0.69%)
SSGC 26.68 Decreased By ▼ -0.43 (-1.59%)
TBL 9.81 Decreased By ▼ -0.05 (-0.51%)
TELE 8.61 Decreased By ▼ -0.11 (-1.26%)
TPL 22.24 Decreased By ▼ -0.38 (-1.68%)
TPLP 15.11 Decreased By ▼ -0.57 (-3.64%)
TREET 24.13 Decreased By ▼ -0.08 (-0.33%)
TRG 59.84 Decreased By ▼ -1.29 (-2.11%)
Top News

US senator calls for free trade pacts in Middle East

Published Updated

John McCainWASHINGTON: Senator John McCain said Thursday the United States should "move urgently" to establish free trade agreements with Egypt and Tunisia but cautioned against increased spending in the region.

The Republican's comments came shortly after President Barack Obama outlined US policy toward the Arab world in the wake of massive uprisings that have toppled two long-serving presidents and unleashed widespread unrest.

Obama had unveiled a multi-billion dollar economic plan to spur and reward democratic change in the region, modeled on the evolution of post-Soviet eastern Europe, and vowed to pursue an Israeli-Palestinian peace deal.

But McCain said in a speech at the US Institute of Peace that "no one should expect this Congress to pass a Marshall Plan for the Middle East," referring to the massive influx of US aid to Europe after World War II.

McCain, who lost to Obama in the 2008 presidential race, said the growing US budget deficit would make it difficult for Congress to approve new spending.

"If we are to going to help countries like Tunisia and Egypt to grow their economies, we will need to be much more innovative," he said.

"We should move urgently to begin negotiations on free trade agreements with Egypt and Tunisia and to explore ideas for new free trade areas in the Middle East and North Africa."

Support should be generated from the private sector and from "wealthy partners like Qatar," he said.

McCain said he and GE CEO Jeff Immelt will lead a delegation of US business leaders to Egypt and Tunisia next month "to reinforce the message that greater democratic reform can lead to greater foreign investment."

But McCain said the first regional objective should be the "peaceful change of regimes that are irreconcilably tyrannical, anti-American and hostile to the democratic regional order that we seek to build," referring chiefly to Iran.

Other goals should include encouraging peaceful transitions to democracy, he said, and pursuing a two state solution to the Israeli-Palestinian conflict.

Copyright AFP (Agence France-Presse), 2011

Comments

Comments are closed for this article.