G-8 Investment Task Force - MENA/ OECD Coordination Meeting

Paris, France
November 19, 2004

Business Dialogue of the Broader Middle East and North Africa (BMENA) Initiative
Draft Conclusions by Arab Business Council Chairman Shafik al Gabr and OECD Deputy Secretary-General Richard Hecklinger

• This meeting, which brought together MENA and OECD business representatives and government officials, explored the practical ways in which the Arab Business Council, the Business and Industry Advisory Committee to the OECD and other private sector bodies could most effectively contribute to efforts to improve the investment climate in the MENA region.
  
  
• Participants agreed on the importance of ensuring that initiatives in the region work closely together in furthering common goals, namely developing priority policy actions, implementing them effectively, monitoring progress and enhancing capacities for implementation.
  
  
• Participants recognised the complementary roles of the G8 Investment Task Force and the MENA-OECD Investment Programme in promoting key reforms to improve the investment climate and to foster private sector development in the MENA region. Participants shared the understanding that close co-operation and interaction between the two programmes is essential to maximise their effectiveness and to avoid duplication.
  
  
• It was agreed that business groups would meet again to discuss the practical arrangements as to how their inputs to the MENA-OECD Investment Programme can be best organised, particularly for the WGs and elaboration of country economic reform programmes.
  
  
• The MENA Task Force of the Business and Industry Advisory Committee to the OECD will help organise workshops to support independent business associations in the MENA region. The Task Force will also help organise a MENA-OECD Business Forum back-to-back with the first MENA Investment Ministerial Meeting in autumn 2005.
  
  
• It was agreed that the Arab Business Council, Jordan as the co-chair of the MENA-OECD Investment Steering Group and OECD would jointly report to the G-8 B-MENA Forum for Future on 11 December 2004 on progress and next steps.