Obama encourages new regional trade arrangements in Mideast

May 19, 2011 19:53


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US President Barack Obama encouraged on Thursday for countries to adopt political reform in order to set the stage for economic development.

Obama said that the US would work with the EU to create Middle Eastern 'regional trade arrangements for countries who open door to reforms." The US president assured that "modern economy should create powerful force for reform"

"Prosperity requires tearing down walls," Obamas said. He explained that countries must take away red tape that prevents proper business fruition, patronage systems that keep wealth within tribes, and corrupt governments that take money from citizens arbitrarily.  Obama called for increased transparency that holds governments accountable.

"Politics and human rights, economic reform" he stated.

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