Mubarak refuses regional economic conference before progress in Mideast peace

Egyptian President Hosni Mubarak said he has refused an initiative by the chairman of the World Economic Forum to establish a Middle East economic conference before achieving a genuine progress in the Middle East peace process.

In statements published by the Egyptian dailies on Monday, Mubarak expressed his desire and attempts to achieve Arab solidarity and establish an Arab economic bloc. The Egyptian president asserted the importance of establishing common free markets and achieving a common Arab market as an urgent need to withstand major economic and political challenges.

President Mubarak added that he sent a message to Israeli Prime Minister-elect Ehud Barak in which he called upon Barak to keep far from the concept of "the Nos" he had already proclaimed.

Barak's reply to the Egyptian President was that he proceeds the path of Rabin.