SAUDI MINISTER OF FINANCE DR. IBRAHIM AL-ASSAF CONFIRMED THAT THE KINGDOM IS EFFECTIVELY WORKING AT THE SOCIAL AND ECONOMIC COUNCIL OF THE ARAB LEAGUE TO TIGHTEN COOPERATION AND ENCOURAGE INVESTMENTS AMONG ARAB COUNTRIES AND SOUTH AMERICAN STATES. ADDRESSING THE OPENING SESSION OF THE SECOND MINISTERS IN CHARGE OF ECONOMIC AFFAIRS OF THE SOUTH AMERICAN AND ARAB COUNTRIES MEETING HELD IN RABAT TODAY, AL-ASSAF CALLED FOR THE SET UP OF A JOINT BUSINESS COUNCIL FOR ARAB COUNTRIES AND SOUTH AMERICAN COUNTRIES. HE EMPHASIZED THE IMPORTANCE OF SUPPORTING THE PRIVATE SECTOR BY GOVERNMENTS THROUGH AGREEMENTS ENHANCING THE PROTECTION OF MUTUAL INVESTMENTS AND EVASION OF DOUBLE TAXATION. HE CAST LIGHT ON THE ROLE THE KINGDOM HAS PLAYED TO PREPARE FOR THIS TWO -DAY MEETING WHICH WILL ISSUE RABAT DECLARATION TO PAVE THE WAY FOR REAL ECONOMIC COOPERATION BETWEEN THE TWO BLOCS.
