Most countries in the MENA region are heavily dependent on primary production and resource-based sectors, with narrow export bases.
Countries are considering and developing strategies of economic diversification based on inter-sectoral linkages in petrochemical and other industries, the development of agricultural resources and the growth of the services sector -- a process in which foreign direct investment can play a crucial role.
Currently chaired by UAE and the UK, the Working Group on Financial Sector Development and Economic Diversification works toward:
assessing economic diversification of MENA countries
developing the financial sector of MENA countries
improving the policy environment and building capacities for entrepreneurship and SME development
The MENA-OECD Capital Markets Taskforce