G-8 Meeting: Post-Arab Spring Economy

The Obama Administration has stated that their goal is to double U.S. export in the next five years.  While attempts to increase trade with emerging markets like China and India will play a large part in reaching that goal, there is one other nascent market that the administration would like to see become a factor: The Middle East.

While it’s still far from clear what sort of governments and economies may emerge from the Arab Spring uprisings, the relatively peaceful transitions taking place in Egypt and Tunsia are cause for cautious optimism.  The Group of Eight industrialized countries (G-8) will be meeting with representatives from these two middle eastern countries at Deauville, a resort in Normandy, France, to discuss the situation.

In a letter to the G-8 Finance and Foreign Ministers signed by U.S. Secretary of State Hillary Clinton and U.S. Secretary of the Treasury Timothy Geithner some of the goals of the meeting are outlined: “Our efforts should be aligned with the needs and aspirations of the people of the region. In Egypt and Tunisia, citizens have outlined several key priorities: improving financial stability, strengthening the private sector, curbing corruption, creating jobs, and further integrating their markets with the region and the global economy.”

Of course, those goals coincide with the U.S. and the G-8’s goals for the region.  Financial stability and a thriving market economy will mean another market for all our exports.