The meeting aims at preparing a framework on ways to face the fallout from global economic turmoil to be presented to leaders meeting at the Arab Economic Summit in Kuwait on Monday and Tuesday.
Al Shamali said Arab countries have been affected by the economic crisis, especially due to a sharp decline in the price of oil and as foreign investments dropped.
Assistant Arab League Secretary General for Economic Affairs Mohammad Al Tuwaijri said Arab countries should "seriously" carry out major economic restructuring.
"Economic development in some Arab countries has been facing difficulties even before the global crisis broke out, and this will get worse now."
Al Tuwaijri said Arab countries should not bow to pressure from Western countries to use its surplus funds in resolving the global crisis because their investments in the West have already incurred heavy losses.
"The natural place for Arab surpluses should be in Arab countries," he added.