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First GCC-Romania Economic Forum opens up brighter horizons -- GCC Chief

BUCHAREST, March 9 (KUNA) -- General Secretary of the Gulf Cooperation Council (GCC) Abdulrahman Hamad Al-Attiyah said Wednesday that promising potentials in Romania and southeastern European countries on one hand, and these in GCC states on other hand provides big opportunities for joint investment.
Al-Attiyah added, in an address delivered on his behalf by Miss. Hadeel bint Abdullah Al-Samhan to the First GCC-Romania Economic Forum here, that the greater role in pushing these investments should be played by the private sector as it can be more effective in providing resources, know-how, and expertise to further develop the potentials of joint investments.
Further, he said that the forum comes in its due time, noting that it brought together the entrepreneurs of GCC states and their counterparts in Romania and southeastern European countries with the aim of introducing the investment opportunities available in both regions.
Al-Attiyah also said that there are promising opportunities of joint investment between GCC Arab states and southeastern European countries, particularly in the domains of agriculture, tourism, energy services, natural wealth, and financial investments along with other fields.
GCC top executive also referred to the volume of industrial investment in GCC states which soared by 2009 to hit more than USD 180 billion with the number of operating factories exceeding 13,000 and employing more than 1 million laborers by the end of the same year.
He also noted that industrial sector accounted for 11 percent of the Gross Domestic Product (GDP) in GCC states, noting that in spite of this sustained growth, the GCC Arab states aspire to further development and rebound.
Al-Attiyah concluded by saying that volume of trade exchange between GCC states and Romania hit USD 609 million in 2009 compared to USD 122 million in 2000 with an increase by nearly 400 percent. (end) amq.aff KUNA 092150 Mar 11NNNN