The Fourth Business Forum for Arab and South American Countries, hosted by the Council of Saudi Chambers yesterday, Sunday, called for the establishment of a joint private-sector shipping company and another logistics company between Arab and South American countries.

The forum recommended increasing direct flights between Arab and South American countries and facilitating the issuance of visas for tourism and business.

Representatives from the countries participating in the forum discussed ways to enhance the level of mutual trade representation between the two regions, and put forward a set of recommendations to facilitate trade and joint investment cooperation between Arab and South American countries, including encouraging the establishment of bilateral business councils in countries across both regions, working to accelerate trade liberalization, and creating an environment conducive to encouraging and securing investments to avoid double taxation, given the positive impact this step would have on the development of trade and investment between the two regions, Meanwhile, the Forum tasked the General Secretariat’s Economic Affairs Sector at the League of Arab States with coordinating with the Forum’s organizers to follow up on the implementation of these recommendations.