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Talks between MENA countries and OECD to attract regional investment

DUBAI—Talks between government representatives from the MENA countries and the OECD, aimed at attracting regional investment ended on Wednesday in Manama.

Conclusions from the three-day sessions, which focused on developing concrete steps to develop improvements in the investment environment of the Middle East and North Africa, will be presented on October 3 when participants in the Steering Group of the MENA-OECD Investment Programme meet for the final time in Istanbul, hosted by the government of Turkey before the Ministerial Meeting at the Dead Sea in the Hashemite Kingdom of Jordan.

Hosted by Bahrain's Economic Development Board, the talks here were the fourth meeting this year between senior representatives from government, civil and private sector organisations of the MENA states and the OECD. The conclusions, once agreed, are to be presented as recommendations to MENA ministers in the form of a Ministerial Investment Charter entitled "Attracting Investment to MENA Countries — Common Principles and Good Practice". This meeting will be held at the MENA-OECD Investment Ministerial Meeting in Jordan in November 2005.

As host to the MENA-OECD Investment Programme, Bahrain has been highly commended by the OECD for playing a leading regional role in driving forward the progress of the Programme. The programme promotes broad reforms to enhance the investment climate so as to attract foreign and domestic investment, modernise governance structures and operations, strengthen regional and international partnerships, and promote sustainable economic growth throughout the MENA region. The programme aims to strengthen countries' capacity to design and implement policy reforms. The Steering Group is designed to guide and supervise the programme, and is comprised of high-level delegates from MENA and OECD countries, other International organisations and the private sector.