Delay Mideast common market

Economic development cannot be confined to the domestic arena, it also includes a regional dimension. Peace and stability are vital for the success of the development efforts of all the countries of the region.

By focusing on the proposed regional common market, Israel's long-term intentions, analysts believe, are to draw the Arab world into its economic orbit.

Few Arabs feel that the Israeli strategy is just fine, which in turn has many Israelis concerned. The idea of the Middle East economic market has long been mooted by the Israelis.

But this is not the most pressing issue now. A just and comprehensive settlement of the Arab-Israeli conflict must precede any talk of a common market, or else the first fruits of a half-baked peace would be sour.

Arab economies have to be reinvigorated and the pace of infrastructure development accelerated if the new economic grouping envisaged is to be meaningful.

In February -- when U.S. Commerce Secretary Ron Brown met with his counterparts from Egypt, Jordan, the Palestinian Authority and Israel in the Egyptian Red Sea resort of Taba -- it was agreed to remove any obstacles to liberalizing and opening the region's markets to trade and investment.

Yes, but the pace of the peace process has to be propelled forward.

-- Al-Ahram Weekly, Cairo