Arabs examine investment prospects in their region

Arab governmental representatives, decision-makers and delegates of international organizations are studying in Rabat investment prospects in the Arab World.

The delegates are meeting part of a regional symposium, co-sponsored by the United Nations Conference on Trade and Development (UNCTAD) and the Moroccan economy and finance department.

The Rabat meeting is meant to identify fields and mechanisms to promote inter-Arab investment environment and attract foreign investments to the region, the UNCTAD said.

Addressing the meeting, Moroccan economy and finance minister, Fathallah Oualalou, urged Arab businessmen to follow their European, Asian and American peers' suit and invest in Morocco.

He underlined that Morocco offers promising business opportunities, especially in the fields of food and hotel industries.

Proximity to Europe and skilled workforce are major factors that should encourage Arab investors to do business in Morocco, he said.

Oualalou, who underlined that inter-Arab economic relations are still short of the expected level, called on Arab countries to promote multilateral economic cooperation. He added that investment will help Arab economies take up the challenges of globalization.