"And we view the initiative of President … to hold this important conference a good opportunity to correct this reality by determining the obstacles that prevent the upliftment in different fields of cooperation which affirm the adoption of programs and plans to assure the elimination of these obstacles facing our cooperation. We also should pay attention to ensure the necessity of encouraging and supporting the flow of investments, exchange of experiences and the transfer of technology as a response to global changes that took place during the past years which led to creation of a united economic world which could pave the way for a large flow of investment through borders. In the world of globalization and information technology, we must take the opportunities to develop our joint economic capabilities. This means in the first place, the elimination of barriers that prevent the free flow of capitals and investment projects. The most important one is the taxation barrier which is imposed on the foreign investors and the complicated administration procedures for their investments. In this context, the Kingdom of Saudi Arabia has issued a new regulation for the foreign investment. It provides a full list of assurances and incentives that enable the investor to keep pace with all modern changes and developments. The Kingdom of Saudi Arabia was keen in line with joint international efforts to meet the international developments in the international trade regulations by stressing the necessity of enhancing the reforms in the world financial system in order to support the efforts of the developing countries to achieve economic growth along with social equality. The Kingdom of Saudi Arabia also stresses that the reforms must include tools more adequate to prevent and to manage financial crisis and to give more role to the developing countries in the decision-making process in the financial multi-party organizations without disrupting the interests of other countries.--MORE1518 Local Time 1218 GMT www.spa.gov.sa/261551