BEIRUT, Lebanon, Dec. 19 (UPI) -- Some 1,000 top U.S. and Arab business leaders, economic officials as well as a number of heads of states will attend an economic forum next year to promote stronger economic and commercial ties between the United States and the Arab world, it was announced in Beirut Thursday.
The U.S.-Arab Economic Forum, to be held on May 15-17 in Detroit, was jointly organized by the American Arab Chamber of Commerce and the Arab League.
It aimed at promoting stronger economic and commercial ties between the United States and the Arab countries, explore economic, trade and technological opportunities, focus on areas of commonality, forge public-private partnerships in the new economy and honor the contributions of Arab-Americans to the economy and society.
The gathering will be attended by some 1,000 participants, including 600 from the United States and 400 from the Arab world.
Among the main guests who have been invited are President George W. Bush, Jordan King Abdullah, Saudi Foreign Minister Saud al Faisal, Lebanese Prime Minister Rafic Hariri, Bahrain King Sheikh Hamad bin Isa al Khalifa, Qatar Foreign Minister Sheikh Hamad bin Jassem al Thani as well as State Secretary Colin Powell and Arab-League Secretary-General Amr Mousa.
Mousa described the forum as an "important conference" and the first such gathering to discuss Arab-U.S. economic relations. He said in a statement distributed during a conference in Beirut on Arab investments that the U.S.-Arab Economic Forum was meant to achieve a better economic and trade understanding with the United States.
U.S.-Arab bilateral trade exceeds $55 billion annually. The U.S. investment in the Arab world was estimated at more than $70 billion while investment from Arab countries in the U.S. exceed $200 billion.
The Arab world has more than 280 million people, about the same as the population of the United States. Its population, however, is expected to exceed 400 million by 2020.
