Gordon Brown Welcomes Palestinian Investment Conference

A conference to promote Palestinian economic development opening in London today will contribute to the cause of peace in the Middle East, according to Gordon Brown.

Speaking after talks with Salam Fayyad, prime minister of the Palestinian authority, Brown said there were "considerable opportunities" for economic partnership between Palestinians and the UK.

"The UK enjoys a close relationship with the Palestinian people and I hope today's conference will cement this. I hope in the coming days we can move further and faster towards the peace settlement that everyone wants to see happen," he said.

Brown and Fayyad spoke at a news conference before the opening of the two-day Palestine trade and investment forum, which is designed to give British investors an overview of business and investment opportunities in sectors including finance, infrastructure, information and communications technology, agribusiness and tourism development. A 40-strong Palestinian delegation is taking part.

Brown said a flourishing Palestinian economy would be necessary if the peace process was going to succeed.

"Establishing a viable Palestinian state with a stable economy and flourishing private sector is a crucial part of this process," Brown said.

The forum taking place in the City would provide a chance to explore further opportunities for development.

"It will promote Palestinian economic development, it will demonstrate the resilience of the Palestinian private sector, it will show the considerable opportunities for partnerships with the United Kingdom," he said.

Fayyad said the forum would be "a significant and important" step in the process of enabling the Palestinians to achieve their aspirations.

At the news conference Brown also criticized the Israelis for continuing to allow settlements to be build on the West Bank. "We have consistently called for Israel to dismantle settlements," he said.

Tomorrow Brown will welcome the Israeli prime minister, Ehud Olmert, for talks at No 10, but Downing Street said the two visits were not linked.

Olmert's visit to London is expected to be his last as head of the Israeli government before he stands down in February to fight corruption allegations. He stands down in February to fight corruption allegations.