Amman, 30 June (Petra)- ABJ General Director, Dr. Adli Kandah, called for creating an Arab-Italian Banking Forum which aims to enhance banking cooperation, especially in regard of correspondent banks, to stimulate economic and trade cooperation between the two sides.

Kandah said the MENA region has plenty of opportunities for economic and banking cooperation for Europe in general and Italy in particular. This would enhance Euro- Mediterranean cooperation and build on successes triggered by the Euro- Mediterranean Association Agreement.

In a session on Arab- Italian economic and banking cooperation on the sidelines of the recently held Euro-Arab Dialogue Forum for Better Economic Zone in Rome, he said there is plenty of reasons that could make Italian decision- makers focus on investment in the region as many sectors have lucrative opportunities.

Kandah called for adopting a multilateral approach to face regional challenges, namely, security, energy and economic growth. Union for the Mediterranean can play a role in dealing with those challenges.

He called for intensifying mutual visits to benefit of the Italian banking experience in financing major projects and environmental ventures in addition to financing SMEs, adopting technology-based banking services, including fintech, and benefiting of Italian expertise in industrial development and public- private partnership, water and energy and economic empowerment of women.

The forum was organized by UAB, Union of European Banks and Italian Banking Association.

The two-day forum discussed issues relevant to Euro-Mediterranean-Arab dialogue for mutual economic growth, Arab-Italian economic and banking cooperation, financial partnership between public and private sectors, benefits and challenges, cooperation between Europe and the MENA region in the fields of finance, e-commerce and mega projects.