North Africa Summary #1

In North Africa there has been many events going on with its economy. First of all the 2nd Economic Conference opened in Addis Ababa. The main goals of the conferences is to find better "knowledge production and dissemination". They also focused on knowledge management hoping that this new knowledge would help provide a better economy for Africa as a whole. Also Egypt is in the Arab Free Trade Area that contains 17 out of the 22 Arab states. Egypt proposed the the Arab leaders that "...they were hoping that such a high level meeting would help address a combination of problems.." . The meeting would try to fix economic problems that Egypt along with other Arab countries. Also in Egypt petroleum companies that were chosen among the best 10 Arab companies, 1,000 were surveyed. In Egypt it is predicted that the world might reach the peak production of 95million barrels of oil per day (BOPD). Egypt is now trying to find and use different energy strategies in order to maintain energy supplies in Egypt. In Libya $123.4 billion is being used for public works, including schools, for the next 5 years.