1999 News Story

Commerce minister addresses Group-77 conference in Morocco

Minister of Commerce Osama Bin Jaffar Faqih yesterday addressed the 9th conference of the Group of 77 in Marrakesh in Morocco. He reaffirmed that the Kingdom would not renege on its role as an effective and responsible member of the international community, and would continue to support under-developed countries as it has done over the past three decades. Minister Faqih went on to refer to the globalization phenomenon as having come at a time when many of the world's regions are weak and are being left behind.  Reviewing preparations for the Tenth United Nations Conference on Trade and Development, he urged Group-77 members to allow all countries who wish to joint the group to do so. He reaffirmed  Saudi Arabia's support of the role of UNCTAD as the main international body to treat issues of development, adding that there is a need for honest cooperation to generate an atmosphere conducive to optimum utilization of national resources and to attract foreign investment.