Hijjah 28, 1431 / Dec. 04, 2010, SPA -- On behalf of the Custodian of the Two Holy Mosques King Abdullah bin Abdulaziz Al Saud, Minister of Commerce and Industry Abdullah bin Ahmed Zainal opened here today evening the Gulf-African Investment Conference 2010 held under the theme "Fostering Economic Relations" and organized by the Council of Saudi Chambers in collaboration with the Gulf Research Center. During the opening ceremony, the Minister of Commerce and Industry delivered the speech of the Custodian of the Two Holy Mosques King Abdullah bin Abdulaziz Al Saud. Following is the text of the speech: "In the name of Allah, the Most Merciful, the Most Gracious. Peace and blessings be upon Prophet Mohammed and his family and companions. Your Excellencies, Dear Audience, Peace and blessings of Allah be upon you. I am pleased this evening to share you the opening of the Gulf-African Investment Conference. I am also pleased to welcome you to the Kingdom of Saudi Arabia, wishing you a pleasant stay. Your Excellencies, Dear Audience, This important conference is held while the world is witnessing extremely complex economic conditions. The conference discusses ways of enhancing economic cooperation among GCC countries and the sub-Saharan African states in order to open wider horizons to increase trade volume as well as value of investments among the two continents that share closer bonds of friendship and geographical proximity since the dawn of history. The importance of this conference emanates from its keenness to create an effective partnership among the countries of the two continents, to achieve welfare of peoples and to help creating a comprehensive development in various areas. Dear Audience, We are aware of the position of the African continent, where it has become the focus of attention of investors from around the world, due to the fact that it is a home of traditional markets and a promising field for various products, especially the products of small and medium enterprises. These markets are characterized by their wide range and large size of potential customers. As a result, many countries, including the GCC countries, are looking forward to the opportunities available in African countries. Africa is attractive, due to its geographical proximity and its agricultural components that attract investments. There is no doubt that cooperation in this field will lead to meeting the needs of 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 developing these regions. --More
