Mr Ibrahim Belselah outlines benefits to Arab world of forthcoming 58th Annual meeting

He made his remarks during a presentation in Bahrain to the Middle East Council, an event co-sponsored by Trust International Insurance and the Bahrain Monetary Agency.

Describing the event as "an unrivalled opportunity for the Arab World", Mr Belselah explained that a primary objective for Dubai 2003 was to ensure that every country in the region should maximize the opportunities presented by this global event being held in an Arab city for the first time.

He said: "We are determined to use the Annual Meetings as a platform to positively promote the culture and traditions of the Arab World and to help all countries attract more foreign investment into the region.

"What it offers Bahrain and other Arab countries is a fantastic opportunity to network with Government Ministers and international business leaders."

Mr Belselah added that Dubai 2003 was ready to assist any Arab country that wished to take the opportunity of the Annual Meetings to host networking events, hold seminars or display information about the economic potential and opportunities their respective country has to offer.

"Countries in our region are ideally geared to benefit from such a gathering of the world's financial community. I hope that the Government and private sector in Bahrain take up the opportunity Dubai 2003 presents to do business and to take a full and active part in the Annual Meetings," he added.

In his presentation Mr. Belselah also outlined details of the status of preparations to host the meetings including information about the newly completed Dubai International Convention Centre, the partnership with Audi to supply 260 luxury limousines to transport VIP guests and new hotel accommodation being built to handle the influx of over 14,000 international visitors.

The Annual Meetings of the Boards of Governors of the World Bank Group and International Monetary Fund were first held in Washington DC in 1946. They are hosted by an international city once every three years. Dubai and the UAE were selected because of its highly developed transportation and logistics infrastructure, growing importance as a financial hub and its established position as an oasis of opportunity.