A three-day economic conference in Casablanca ended on 1 November with an agreement to set up a new Middle East development bank and several new institutions to promote economic co-operation that will foster peace in the region (see pages 6 and 7).

The Middle East/North Africa economic summit was attended by more than 1,000 business executives and government officials, including representatives from most Arab states and Israel. Morocco’s King Hassan wound up the conference, which was held in his palace, by issuing a 14-point Casablanca declaration. A further conference is due to take place in Amman in the first half of 1995.