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L
ast week's economic summit
in Casablanca was some-
thing of a milestone in the
Middle East peace process
in publicly expanding that
process, which has naturally been
dominated by heads of state and
senior officials, to embrace the
business communities of Israel,
the Arab world, and the West
and thereby put some meat on
the bones of the still- theo-
retical "new Middle East."
Yet in Israelis eyes, the reviews
of the summit were mixed. Some
economic pundits believed it was
far more a political milestone
than an economic one—"the end
of the ice age of Arab unity
against Israel," in the words of
Ha'aretz columnist Zvi Bare'.
Bank of Israel Governor Jacob
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publication "Telegraph" in the
Arab world—a nice touch but
hardly an economic coup.
For everyone else, it seems,
Casablanca was an elaborate
backdrop for establishing initial
contacts.
Cynics even sneered that the
conference was more a boon to
the printers of business cards
than to the promoters of serious
development schemes.
There's at least a grain of truth
in that snappish observation.
Mr. Peres and his staff headed
for Casablanca with the hope that
the conference would adopt his
proposal (only begrudgingly ap-
proved by the United States) to
establish a Middle East and
North Africa Development Bank.
In the end, the delegates merely
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A kosher butcher in Morocco might be part of the link between Israel
and the Arab world.
Frenkel pronounced that the con- called for "a group of experts to
tacts between Arab and Israeli examine the different options for
businessmen at Casablanca "ef- funding mechanisms."
fectively spelled an end to the
True, they also decided to es-
Arab boycott." Israeli partici- tablish a Regional Tourist Board;
pants also reported feeling the to encourage the establishment
positive effects of the decision by of a Regional Chamber of Com-
the Gulf States Council for Co- merce and Business Council; and
operation to lift the secondary to create a Steering Committee
and tertiary boycotts, meaning and Executive Secretariat to "ad-
approaches from Western and vance the public-private part-
Japanese companies that had nership by promoting projects,
long been careful to keep their sharing data, promoting contacts
distance.
and fostering private sector in-
Other observers took a cooler vestment in the region."
view of the conference,
Yet considering all the talk of
pointing out that despite the high the need for regional coopera-
expectations generated by For- tion—especially in the spheres of
eign Minister Shimon Peres (who water, transport, communica-
first proposed and consistently tions, and creating a basic eco-
promoted the idea), the econom- nomic infrastructure in the West
ic influence of the parley was es- Bank and Gaza—the yield of the
sentially confined to the micro conference was disappointing.
level. And even there, it was The World Bank announced
mostly an exploratory event. Few rather gingerly that it was "look-
if any deals were closed in ing into" the Jordan Rift Valley
Casablanca, the only headline- development projects referred to
maker being the proposal to in the Israeli-Jordanian peace
distribute an English-language treaty. The European Commu-
version of the Israeli economic nity went a step further by an-