The results of the 7th annual Arab businessmen and investors meeting

The results of the 7th annual Arab businessmen and investors meeting were disclosed yesterday, with the conclusion of three days of conferences in the Summerland hotel, in Beirut.

The secretary general and assistant of the meeting, Emil Ghantous, announced the decisions of the 400 Arab and 200 Lebanese participants. He affirmed the importance of the establishment of a common Arab market and a large Arab duty free zone. He stressed the necessity to limit foreign ownership of shares in Arab projects and to expand Arabic cooperation and investments.

Ghantous encouraged the development of new financial regulations and the use of modern information techniques in the Arab world. He announced the project of a common Arab bank that would finance Arab plans. He also spoke about the ways to develop the agriculture in Arab countries. Finally, Ghantous declared that 8th annual meeting will be held in Tunisia next year, while the 9th meeting will take place in Jordan in 1999.