The Palestinian leader, Yasser Arafat -- now in the United States -- today sees is seeing, has seen President Clinton in Washington in a new effort to bolster the peace process and to encourage more investment in the Palestinian economy.

The meeting is taking place before the start of a forty-nation conference aimed at attracting investment in Palestinian enterprises.

Mr Arafat has again said that he hopes the coming year will see the beginning of an independent Palestinian state.

Earlier, the United States Secretary of Commerce, William Daley, pledged to encourage private investment in the Palestinian economy.

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.