Importance Of Natural Resources

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Natural resources of the region:
The region is one of the richest region based in the amount of natural resource that most of its countries have, in particular the region it is characterized by the production and exportation of hydrocarbons. According to the American Petroleum Institute (API) “the Middle East along has about 63 percent of the known reserves of oil in the world”. The abundancy of this vital resource made the region on of the most reached region on the planet. In addition, countries like Qatar, Iran, Saudi Arabia, and United Arab Emirates have one of the largest Natural Gas reserves in the world. Oil and Natural Gas are not the only important natural resources found in the Middle East; for instance, Iran possess the world’s
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The population in the Middle East is of approximate 400 million of people and since women are something relegated to domestic functions in some of these countries the labor force is reduce significantly. Some of this countries like Qatar, Kuwait, and United Arab Emirates are forced to import labor force form India or Pakistan to fulfill the growing demand of labor especially in important construction and infrastructure projects like the Soccer World Cup Qatar 2022. Many organization like the World Bank have released promising programs in order to achieve an important increase and integration of the female population to the labor force. The program called Gender Action Plan (GAP) is a four-year action plan to improve women’s economic opportunity through increasing women’s labor force participation and entrepreneurship”, in these countries with a high gender …show more content…
This organization includes 18 Arab countries and within its main provisions are the reduction of tariff rates, fees, and any type of taxes implicated with the trade of merchandises and products, this goal was achieved in 2005. Also, the elimination of all non-trade barriers that could exist between these countries like administrative, quotas, and monetary barriers. Another important organization is the Arab League which is mainly a political organization, however, the league plays a key role in the negotiation of trades and agreements between its members. The implications of the decision taken by the Arab League, like the suspension of Syria for the use of extreme violence against opponent of the regimen of Bashar al-Assad. Moreover, many of the countries of this region become part of the United States initiative lunched in 2003, the Middle East Free Trade Area Initiative (MEFTA). This initiative created plans to increase and rise the trade, investment, and relationship between Middle East nations with the United States and the European Union. According to the Office of the United States Trade Representative “Working together with other important organizations like the World Trade Organization (WTO) the United States will expand and deepen economic ties through Trade and Investment Framework Agreements (TIFAs),

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