Talks to help Palestinian economy open in Prague

PRAGUE (AP) -- Former British Prime Minister Tony Blair says there is enormous potential for doing business in the Palestinian territories.

Blair, who serves as special envoy for the Quartet on the Middle East, a diplomatic peace initiative, spoke Saturday alongside former U.S. Secretary of State Madeleine Albright to open a two-day meeting as part of an initiative hoping to bring billions of dollars in investments to the struggling Palestinian economy.

Blair says the initiative that brings together politicians, Palestinian and international business representatives and financial institutions is meant to produce "the most detailed ... plan for the Palestinian economy."

It is unclear if any major deal can be announced in Prague because business development is closely linked to progress in the deadlocked negotiations between Israel and the Palestinians.