OECD and Arab countries are to enter a new phase of co-operation on investment and governance policies, following a three-day meeting in Cairo of ministers and senior officials responsible for the MENA-OECD Initiative on Governance and Investment for Development.
Participants agreed to extend the twin-pronged initiative, launched in 2004 in partnership with UNIDO and UNDP, to promote equitable economic development, increased employment and enhanced prosperity in the countries of the Middle East and North Africa, for a further three years to 2010.
In a speech inaugurating a meeting of ministers responsible for investment policy, Egyptian Prime Minister Dr. Ahmed Nazif said the initiative was providing positive benefits to Arab countries in helping them to find their own ways to reform and improve the economic and social performance of their countries.
OECD Secretary-General Angel Gurría said the MENA-OECD Initiative represents "a prototype of a new approach to international co-operation".
See full Press Release.
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