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North Africa/Southwest Asia
Recent Economic Development
- Saudi Arabia to boost oil production
Saudi Arabia has outlined a plan to increase oil production capacity to 12.5 million barrels per day (mbpd) by 2009 from the current 11 million limit.
- Kingdom Set to Post 8.7% Growth
Saudi Arabia?s economy is expected to grow 8.7 percent this year, fueled by high oil prices and production levels, as well as strong private sector growth.
- Modern technology to power UAE's growth
Modern technology is the conduit that will enable the UAE to compete and succeed in today's globalised economy, said Shaikha Lubna Al Qasimi, UAE Minister of Economy and Planning at the second Microsoft Government Leaders Forum Arabia (GLF) in Dubai yesterday.
- US and Oman likely to sign FTA soon
Oman?s trade minister said that talks with the Bush administration regarding a US-Oman free trade agreement had gone so well this week that the deal should be wrapped up next month.