Еconomic modernization results in the Arab countries

Abstract

The article reviews some results of the economic modernization that has been carried out in the Arab World over the last three decades. The author attempts to assess the changes that have taken place in the process of introducing the market economy in the states of the Middle East and North Africa. Special attention is given to various areas and forms that could help to foster the economic cooperation between Russia and The Arab countries. In particular, the author puts forward a proposal on the desirability of cooperation between Russian small and medium-sized companies and Arab companies using the resources of investment funds of the Arab countries.