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Monday, November 30, 1998 Published at 11:56 GMT
World: Americas
Arafat seeks cash in US
Mr Arafat is seeking foreign investment
Palestinian leader Yasser Arafat is due to meet US President Bill Clinton in Washington on Monday to try to encourage investment in the Palestinian economy and bolster the peace process.
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Mr Arafat has again said that he hopes the coming year will see the beginning of an independent Palestinian state.
Earlier, Mr Arafat and US Secretary of Commerce William Daley met US business executives to discuss how to boost the Palestinian economy and increase aid from wealthy nations.
Trade mission
Mr Daley, who has just returned from a trade mission to the Middle East, suggested that foreign firms could invest in Palestinian food, telecommunications and information technology industries.
He pledged to encourage private investment in the Palestinian economy, and support efforts to establish free markets in the region.
He said a lasting peace could only be built on economic stability and jobs.
Mr Arafat said he was committed to a policy of privatisation and sought to allay concerns of foreign companies over security in the region.
The two politicians were joined by around 15 business leaders, including representatives from Coca Cola, which has just wrapped up a trade deal on the West Bank.
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