Mr. H.E. Abderrahmane Ould Hamma Vezzaz, the representative of the Islamic Republic of Mauritania, chairman of the 32nd term, inaugurated the meeting. The Board issued a number of resolutions, the most important of which are the following:

• Election of H.E. the representative of the Islamic Republic of Mauritania as
  chairman of the Board for its 32nd term, and H.E. the representative of
  Somalia as deputy chairman of the Board for the same term.
 
• Election of H.E. the representative of the Republic of Somalia as a deputy
  chairman of the Board for its 33rd term, and H.E. the representative of
  Tunisia as deputy chairman of the Board for the same term.

• Approval of AAAID balance sheet, the final accounts and reserves, as at 31.12.2007.

• Authorizing the Board of Directors of AAAID to study the establishment of
  an investment company or companies, with shareholdings by AAAID and
  interested member states, financial institutions and the private sector, to
  invest in countries which have comparative advantages for the production
  of cereals and forages and other agricultural crops.
 
• Allocation of 10% of AAAID net income for the year 2007 to support the people of Palestine. 

• Distribution of dividends to shareholders equivalent to 5% of the paid-up capital.

• Approval of AAAID investment program for 2008-2009.

• Approval of the Republic of Djibouti for joining the Agreement of Establishment of AAAID.

• Thanking H.E. the President, excellencies the members of the Board of
  shareholders, and the employees of AAAID, for their fruitful efforts during
  the year 2007.
 
  It is worth mention that many of AAAID Board of Shareholders have
  expressed their appreciation of the role of AAAID and H.E. Mr. Abdul
  Kareem Muhammad Al-Amri, President of AAAID, for his great role in
  developing the performance of AAAID.

  H.E. Mr. Abdul Kareem Mohammad Al-Amri addressed the Board of Directors meeting, briefing the Board on the performance of AAAID. He explained in his statement that AAAID has continued its efforts towards its objectives of contributing in achieving food security in the Arab region, where it focused on introducing and disseminating modern production technologies and establishing agricultural production models. The total of AAAID investments in companies amounted to US$ 514 million, equivalent to 140% of paid-up capital. He pointed to the solid financial position of AAAID, where it distributed dividends to member states amounting to US$ 333 million, equivalent to 91% of paid-up capital, while shareholders' equity has amounted to US$ 696 million, equivalent to 190% of paid-up capital.