"I would like to point out here to the cooperation in this fieldwith South American countries. There had been active participation of companies and contractors from South America in implementing developmental projects in African continents financed by the Saudi Fund For Development (SFD). The Kingdom of Saudi Arabia also took the initiative to contribute its full share in the fund initiative for reducing the debts of the poor countries that are burdened by debts to the International Monetary Fund. The Kingdom of Saudi Arabia freed a number of poor countries from the debts due on them before the launch of the new international initiative in this respect. Mr. President We realize that this conference is concerned by the economic aspects, but we feel that the desired economic development must be based on a stable situation. And this makes me move to mention a number of important political causes in our region which formed an obstacle before the development and the matter will remain (unresolved) as long those issues are not dealt with. These issues are toped by the Palestinian cause which still awaits a just and lasting solution based on establishment of a Palestinian state as it was stated in the Arab peace initiative and the road map. If the peace process is to be moved forward, then Israel must fulfill its obligations according to the signed agreements and treaties and to respect the resolutions of the international legitimacy and land for peace principle.--MORE1537 Local Time 1237 GMT www.spa.gov.sa/261553