RIYADH: King Abdullah, Custodian of the Two Holy Mosques, in a speech read out on his behalf by Abdullah Bin Ahmed Zainal, Minister of Commerce and Industry, called on the GCC businessmen to establish economic partnerships with their African counterparts. The minister opened the Gulf-Africa Investment Conference 2010 on the King's behalf here Saturday. The Custodian of the Two Holy Mosques said Africa is attractive due to its geographical proximity and its agricultural components. “There is no doubt the cooperation in this field will lead to meeting the needs of the GCC markets by providing them with African agricultural products. Moreover, the African producers will take advantage of the gains that will enhance the flow of GCC investments to rural areas in these states and this will also lead to the uplift of these regions.” The King's speech said the Kingdom has excellent relations with most African countries, which is evident by the level of financial activity of the Saudi Fund for Development that largely covers the African countries in various areas. In his keynote address, the President of Senegal, Abdoulaye Wade, proposed the establishment of a joint body to promote the economic development of GCC and African countries. “There are many untapped opportunities the two blocs could work on together,” Wade said. He said the proposed joint body should use the services of research scholars and professionals from both sides to explore joint investment projects mutually beneficial to the countries in the GCC and parts of Africa. Wade said the cooperation between the Gulf and African countries is indispensable. “Both regions share common challenges and we must work jointly to accomplish our dreams and interests. There is a need to work together to find innovative solutions and creative ideas,” he said. He said the support extended by King Abdullah, Custodian of the Two Holy Mosques, for Arab-African cooperation was noteworthy. “We will work together to activate the partnership between Gulf and African countries in the best interest of the people on both sides,” Wade said. He said Senegal is ready to host the next African-Gulf investment conference and discuss the possibility of boosting economic and trade relations between the two blocs. Khalid Al-Qusaibi, Minister of Economy and Planning, urged African countries to create a conducive investment climate by simplifying their rules and regulations. Al-Qusaibi was speaking as moderator of the first session “Gulf-Africa Relations: Views from Southern and East Africa”. “Creating a conducive investment climate is important for boosting economic relations between the GCC and African countries,” said Al-Qusaibi. Other African heads of state and officials at the event include Armando Emilio Guebuza, President of the Republic of Mozambique; Emilio Mwai Kibaki, President of the Republic of Kenya; Dr. Thomas Boni Yayi, President of the Republic of Benin; and John Darmani Mahama, Vice-President of the Republic of Ghana.
