RABAT, Jan. 30 -- Morocco hosted a high-level conference on exploring efficient policies to spur economic growth and inclusiveness in the Arab world.
Themed "Opportunity for All: Promoting Growth, Jobs, and Inclusiveness in the Arab World," the two-day conference ended on Tuesday in the Moroccan city of Marrakech, with a focus on specific policies needed to gain new sources of growth.
Participants of the conference agreed that growth has not been strong enough to reduce unemployment significantly, as 25 percent of young people in the region are jobless.
Protracted regional conflicts, low commodity prices, weak productivity and poor governance have been identified as main factors gelding back the considerable potential of the region.
In order to boost inclusive economic growth, the conference summarized the priorities of the path to be taken in Marrakech Call for Action, which calls on governments to "Act Now" to pursue a set of actions or reforms.
These reforms promote accountability through increasing transparency and strengthening institutions to improve governance, tackling corruption, and ensuring responsibility for inclusive policies.
The document urged for a more vibrant private sector through improved access to finance and a better business environment with fewer barriers and less red tape.
It also called for leveraging technology and nurture trade to generate new sources of growth, create jobs, and foster prosperity.
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