RIYADH: Saudi Arabia will fund the construction of a permanent seat for Arab summits in the Egyptian Red Sea resort of Sharm El-Sheikh, an Arab diplomat said Wednesday.
Egypt will offer the land for the building, the Riyadh-based diplomat told AFP, requesting anonymity.
The decision comes after Saudi Arabia declined during the annual Arab summit in Khartoum last week to host next year s gathering in Riyadh. It argued that such meetings should take place in Egypt, which hosts the headquarters of the 22-member Arab League.
Saudi Arabia and Egypt, backed by several other Arab countries, have agreed that both regular and consultative Arab summits should be held in the league s host country, according to the diplomat.
Saudi Foreign Minister Prince Saud Al-Faisal told reporters Tuesday that Riyadh favors turning Sharm El-Sheikh into the permanent venue of Arab summits.
The Saudi-Egyptian agreement to hold annual summits and other major Arab meetings there could solve many political, security and financial problems, an Arab official told AFP.
Arab leaders often stay away from summits because of differences with the government of the host country, the official noted.
This is one of the problems which can be overcome by designating a permanent venue for summits, he said.
Another issue relates to security concerns. Some of the Arab leaders who stayed away from the latest summit in the Sudanese capital are believed to have done so because of security fears.
The official said establishing a permanent seat for Arab summits will also reduce the expenses of staging the gatherings. The cost can be taxing for some of the poor Arab states, which then seek financial assistance from richer Arab countries.
Under the new arrangement, each delegation participating in an Arab summit will foot its own bill, the official said. AFP
