Vollebaek says to maintain momentum on the Stability Pact

ISTANBUL, 18 November 1999 -In the first session of the Istanbul Summit, OSCE Chairman-in-Office Knut Vollebaek called on participating States to keep up the momentum on the Stability Pact process, while Bodo Hombach, the Stability Pact Special Coordinator, outlined the pact's concrete initiatives since its inception six months ago.

Vollebaek, who chaired the meeting, indicated that the high ranking Istanbul meeting was purposively scheduled to draw attention to the fundamental importance of continuing support for the Stability Pact.

"The Stability Pact gives us the opportunity to continue our focus on the five countries of Southeast Europe," he said. "We need to keep up the momentum and maintain the Pact's fundamentally important work."

Vollebaek also presented an OSCE regional strategy plan authored by Ambassador Robert Barry, the Chairman-in-Office Special Envoy on Southeast Europe.

Hombach outlined several concrete Stability Pact initiatives advanced, including an Investment Compact by the Southeast European states to improve their investment climate, the anticipated establishment of a Business Advisory Council and an Anti-Corruption initiative, among others.

Other speakers included the Finnish Foreign Minister Tarja Halonen, representing the European Union, US Secretary of State Madeline Albright and Bosnian Foreign Minister Jadranko Prlic, among others.