Arab investment conference in Beirut underlines Arab divisions
A three-day conference on investment in the Arab world opened in Beirut Saturday with the participation of some 1,000 government officials, company representatives and private investors. Arab economy, trade, finance and investment ministers from Saudi Arabia, Kuwait, Jordan, Egypt, Tunisia, Sudan and other countries are attending, with the biggest delegation coming from Syria and is headed by Prime Minister Mahmoud Al-Zoubi.
The presence of a powerful Syrian delegation is intended to present the conference as a substitute to a controversial U.S.-backed Middle East/North African economic parley in Doha, Qatar next month, to which Israel is invited. Both Syria and Lebanon have been fiercely campaigning against the Doha meeting, trying to persuade other Arab countries to boycott it.
The Doha conference is the fourth in a series intended to support and enhance the Middle East peace process. Israel has participated in the previous three conference and has been invited to the one in Doha on November 16.
Only Saudi Arabia and the United Arab Emirates have said publicly they will boycott the conference. Most Arab countries, including Egypt, have withheld a decision on the participation pending tangible and significant Israeli moves to advance the peace process.
As might be expected, Arab divisions over the Doha parley spilled over, casting a cloud over the opening session of the 7th Arab Businessmen and Investors' Conference in Beirut. Syria's prime minister lashed out in a speech at the Doha conference, saying Israel must not be allowed to be rewarded for its "aggressive" policies against the Arabs by holding such a conference. Qatar's envoy protested and a spat ensued that had Lebanese President Elias Hrawi interfering to ask the Qatari to "please sit down."
The conference in Beirut is the seventh in the series that was first launched in March 1982. It is organized by the Cairo-based Arab League, the Federation of Arab Chambers of Commerce and Industry and the Arab Investment Insurance Organization. It is the first time Lebanon hosted such a forum which is held once every other year in an Arab country.
The Lebanese government has been urging Arab and foreign investors to benefit from the multi-million dollar reconstruction program underway in Lebanon to repair damage wreaked by the 1975-90 civil war, estimated at $25 billion.
Meanwhile, Arab League (AL) Secretary-General Dr. Ismat Abdul Maguid was also in Lebanon on October 19 to participate in the opening of the conference.
During a two day visit, Abdul Maguid will discuss with Lebanese President Elias Hrawi and Prime Minister Rafik Hariri the latest developments in south Lebanon under the continued Israeli aggressions, as well as the efforts exerted to rescue the peace process.