JEDDAH, 28 February 2007 — Sami Bahrawi, chairman of the Eighth Jeddah Economic Forum, said yesterday at the conclusion of the forum that the London School of Business would be formulating a series of recommendations based on analyses of the conclusions and proposals addressed.

Economists and other experts will produce the report over the next two months in order to glean what Bahrawi described as the “cream of the forum.” He said that the report will help academics and professionals understand that direction Saudi Arabia is going in policies related to issues such as privatization, social responsibility and education. Bahrawi made his comments during a press conference that included Jeddah Chamber of Commerce and Industry (JCCI) Chairman Saleh Al-Turki at the close of the forum.

Al-Turki said that the eighth annual JEF has concluded achieving its goals.

“The many important deals that were signed and side meetings that were held during the forum and the great number of attendance are clear signs of the event’s success,” he said, adding that planning for the ninth annual JEF would begin shortly, pledging to improve some of the minor glitches that occurred this year.

“There will be a better media center (next year) that will be closer to the main hall and the topics would have more diversity of local and international economical topics,” he said.

Al-Turki did not specify an exact date of next year’s forum, but did suggest that it would address regional economic development. (The Gulf Cooperation Council is in the process of working out how to implement a common currency, a sign of the efforts to bring the six member states closer economically.) Al-Turki also mentioned the problem with illegal workers, of which he estimated there are 2.5 million in the Makkah region alone. He said that one of the best side affects of the JEF is the amount of publicity it provides the Kingdom in general and Jeddah in particular. The JCCI chief estimated that the publicity provided by the JEF would be valued at about $16 million worth of advertising. He said the JEF’s budget this year was $3.2 million.