Sharm el-Sheikh opens summit of League of Arab States

The main topics of the summit of the League of Arab States (LAS) in
Sharm el-Sheikh is the creation of new workplaces and coping with
poverty, RIA Novosti reports.

The summit is being held against the background of disorders in
Tunisia. The former president of Tunisia, Zine El Abidine Ben Ali,
left the country. Unrest has been registered in other Arab states due
to discontent with living standards, high prices for food and
unemployment.

Egyptian President Hosni Mubarak said that they need to concentrate on
creating new jobs for young people, who make up a quarter of the
population.

The Secretary General of LAS, Amr Moussa, said that the main topic for
discussions will be the launch of the fund for support of small and
medium-sized businesses. The fund will receive $2 billion in
investments. Most of the sum has been provided by the oil-rich
countries of the Persian Gulf. The fund will provide long-term credits
to businessmen of Arab states. The project includes uniting national
electricity systems, including those of 8 Arab states, and
construction of a common Arab gas pipeline through the territory of 6
states.

The issue of cooperation in maritime transport will also be raised.
Mubarak said that they will not scrap the path of economic development
and integration.