(30 Oct 1995) English/Nat
Middle East nations meeting at an economic summit have come up with a number of ambitious infrastructure projects to boost the region economically.
But the projects come with a hefty price tag -- almost 40 (b) billion dollars.
60 nations are meeting in Jordan's capital Amman for the three-day Middle East-North Africa Economic Summit, to search for ways to revitalise the region's economy.
But with Western donors squeezing their overseas aid budgets, it is likely that only a fraction of the proposed projects will receive financing.
The second day of the Middle East Economic Summit kicked off in a relaxed mood.
In place of the expansive speeches of the opening day, businessmen from around the world huddled in little groups and started to cut deals.
The annual summit this year has a record attendance.
Now that Israel has signed peace treaties with Jordan and the Palestinians, more Middle Eastern states are ready to talk business with their Jewish neighbour.
As a sign of how far Palestinian-Israeli relations have improved, the newly formed P-L-O government is here in force.
The P-L-O is pushing for 6.3 (b) billion dollars to develop their autonomous territory after almost three decades of Israeli occupation.
SOUNDBITE: (English)
It has been 27 years have passed without any investment during the occupation in the infrastructure. It is very difficult for a business to start without reliable electricity without reliable communication without reliable water systems without reliable sewage systems and these impose a very high cost on starting businesses.
SUPER CAPTION: Nabil Sha'ath, Palestinian Planning Minister
But it is not just Middle Eastern and North African businessmen who have turned out for the summit.
Western companies have clearly spotted a potential market in a region that for the past half-century has been mired in conflict.
More than 125 U-S companies are attending the conference and a number have already announced deals. British companies, like Marks & Spencers, have also flown their representatives out to Amman for the three day conference.
The conference organisers announced plans for a Middle East development bank to help fund projects -- but has already faced difficulties raising the initial 5 (b) billion dollars in capital.
SOUNDBITE: (English)
"I think many people are beginning to understand that for the benefit of their own people the whole young generation the time has come to stop spending so much money on wars and on confrontations.Political peace is a departure from the past economic peace is an introduction to the future. Here in Amman today in Jordan we are really trying to buy a ticket to the 21st century - with all its promises and its potentials"
SUPER CAPTION: Shimon Peres, Israeli Foreign Minister
But integrated development will not be easy in a region where many of the countries developments needs vary greatly.
Israel, with a per capita income of more than 15-thousand dollars, has vastly different demands compared to countries like Egypt where the figure is about 700 dollars.
Still, there is a growing awareness that peace could deliver big dividends in a region that has often in the past scared off investors.
SOUNDBITE: (English)
"We are supervised for the first time ...... flag..... for the first Christmas in Bethlehem."
SUPER CAPTION: Yasser Arafat Chairman of the P-L-O
The conference has sounded a note that looks likely to unify old foes in the Middle East towards a common purpose.
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