1 May 2008
The Prime Minister has addressed the Palestinian Investment Conference at the Mayfair Hotel in London. Mr Brown said that there are "real economic opportunities" in the Middle East and a chance to build "peace and prosperity" across the region.
Read the address
Let me say first of all what a great privilege it is for me to be here this evening. And I want to start by thanking my friend, Prime Minister Fayyad, whose dedication to peace and whose bravery and whose great success as a Finance Minister, and now Prime Minister, I admire greatly, and I am very pleased that he is here with us this evening.
And let me also thank Tony Blair for all his efforts to bring about a lasting peace in the Middle East. He has given an enormous amount of time to this effort, he has made it a mission that is something that he is determined to achieve, and as I know from my experience of working with him over 25 years, he will do everything in his power to make things work.
And let me also welcome the European Commissioner, let me also welcome all those who are contributing to this Investment Conference, and let me particularly say thanks for coming to the only people who can make possible the investment we need, and that is the businessmen and women who are here this evening.
Like Tony, I have had a huge interest over a long period of time in what we can do to ensure prosperity and peace in the Middle East. And I have seen at first hand on my visits the need, the potential and the opportunity for new investment to make a difference.
Three years ago - under Tony’s leadership - we invited Mr Fayyad and Mr Olmert to the G7 to discuss this very issue; two years ago we brought together investors; six months ago Britain published a proposal that was effectively an economic road map that would help the Palestinian economy.
And now I believe, as you will hear this evening from all the speakers, we are on the brink of a huge opportunity. And the investment conferences in Dubai, and Abu Dhabi, and now here in London, will lead to the conference in Bethlehem later this month.
And this process is about attracting new business investment, but it is also about building a viable Palestine, side by side with a secure Israel, and therefore a genuine and sustainable peace for the Middle East. And my abiding concern is that Palestinians feel they have an economic stake in a peaceful future, and that they are reminded of the benefits of economic prosperity, and thus the benefits of a cessation of violence all round.
And governments can play their part, and that is why Douglas Alexander, who introduced me this evening, has pledged that we will provide almost $500 million to help build the economy of the future.
But we cannot create a thriving economy without businesses willing to invest. And your engagement is not about altruism or philanthropy, the fact is with a young and relatively well educated labour force, a sound investment climate, a well developed financial sector, an advantageous geographical location, the Palestinian territories offer real economic opportunities.
Now of course we are not complacent about the security situation. Hamas must cease their rocket attacks and facilitate a rapid solution to the Gaza crossings problem, the Palestinian Authority must of course step up efforts to take control of security, and as the United Nations have made clear, Israel should lift the restrictions on Gaza and do more to prevent illegal settlement activity on Palestinian land.
But we must recognise, and we should support, the many people in the region who are working hard to ensure that the conditions for investment are put in place and maintained.
Prime Minister Fayyad’s faith in a viable Palestinian state is demonstrated by his sound stewardship over so many years of the Palestinian economy and his commitment to the transparency, the good governance and the fiscal responsibility that investors want. And I speak regularly with Prime Minister Olmert and President Abbas, and both men are bold and ambitious in their determination to deliver a solution.
And I believe that the political process which began at Annapolis in November now presents us with a real opportunity. So as you consider investing in the Palestinian economy, I assure you that in Israel, in the Palestinian territories and across the international community we are focusing relentlessly on creating the political climate that will deliver better security, better movement for access and a more secure future for both the Palestinian and Israeli people.
We will continue to work with those on all sides committed to peace and prosperity. I have promised Prime Minister Fayyad that if his government would find it useful, Britain would be willing to host a further set of investment meetings of this kind in the United Kingdom.
And so my message is very clear. There is an economic prize before us, there is a double dividend, for you as companies and the Palestinian people - there is a real chance to build on the ingenuity, and the skills and the commitment of Palestinians to build peace and prosperity across the region.
It is a challenge that many companies I hope will now take up, and it is a challenge that can not only make a difference to the economic livelihoods of so many people who need our help, but also make a difference to peace throughout the world. Thank you all very much.
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