Accountable government models discussed by Alabbar and Giuliani at Leaders in Dubai

Speaking on stage at Leaders in Dubai, Alabbar pointed to the situation in Iraq and said: 'While America's goals for Iraq are noble, but the results are bad. The USA as a country had wonderful dreams and great credibility - yet its reputation has been lost over the last four years.

'The situation affects all of us in the region, not least because we are promoting liberalisation, freedom and reform.'

Giuliani argued that the situation in Iraq today is preferential to three years ago and urged the Middle East to take another look at the USA.

'Millions of people in Iraq died and nobody in the Middle East was willing to get involved. I would urge you not to have a prejudiced view of us: now the people of Iraq have the chance of a decent government because young American citizens have given their lives.

'In the midst of criticising America, please consider this.'

Giuliani pressed for a stronger business relationship with the USA and Arabia and said: 'Nothing makes us understand each other quite like a mutually beneficial business relationship.'

Giuliani expressed his hopes that an accountable government in Iraq could become the model for the region. 'This is a great opportunity for Iraq to create a model of accountable government, and demonstrate that democracy can fit within the Islamic culture.'

The former mayor was making his first trip to the Middle East for the two-day Leaders in Dubai event, said to be the biggest gathering of business leaders in the city since the Annual Meetings of the World Bank and IMF.

Earlier in the proceedings, the topic of family businesses in Arabia was discussed by management guru Tom Peters in a panel discussion with Abdulla Al Zamil, chief operating officer of Zamil Industrial Investment Company and Floris Ansingh, president and CEO of Shell Companies in Saudi Arabia.

Peters urged the heads of family businesses to know when to pass the business on to the next generation. He said: 'There is a time to come and a time to go. And when they go, patriarchs should leave the country - or better still, leave the region.'

Al Zamil agreed, saying: 'We need to learn to take advantage of the second and third generations before the patriarch leaves the company.'

Close on 2,500 delegates attended Leaders in Dubai, which will be the biggest business conference to be held at the Dubai International Convention Centre since the Annual Meetings of the World Bank and International Monetary Fund in September 2003.

Leaders in Dubai is sponsored by EMAAR, Saudi Basic Industries Corporation (SABIC), Citigroup, Shell, Nokia and Visa International. Al Hayat, Ameinfo.com, CNN and Gulf Business are the event's key media partners, HP is the technology supporter and the official hotel is The Fairmont, Dubai.