Three-way summit to tackle Arab developments

"Three-way Arab summit held in the Libyan city of Sirte Monday came at a very crucial moment of the Arab nation's history," the Egyptian Ambassador to Libya said Tuesday.

Speaking to Sawt Al-Arab Radio over the phone, Ambassador Mohamed Refaa Tahtawi said the summit discussed the developments on the Arab arena in general, with special emphasis on collective Arab action. The Libyan-Egyptian leaders agreed on setting up a joint fund to boost investments between the two states, he said.