Davos in the Middle East
A regional meeting of world business leaders this month promises to put pivotal global issues in the spotlight. Mona El-Fiqi reports
"Visions for a shared future" is the theme of an extraordinary annual meeting to be held by the World Economic Forum (WEF) in Jordan late this month.
"We are bringing Davos [the WEF meeting] to the Middle East to share ideas about the future, to put an end to the tension in the region and to begin a new momentum for peace and progress," said Fredric Sicre, managing director of the WEF, during a visit to Cairo last week to prepare for the meeting.
At a press conference held by Sicre and Shafik Gabr, chairman of Egypt's International Economic Forum, the WEF managing director said participants at the meeting are to include prominent political and business leaders from the Middle East, Europe and the US.
The meeting, Sicre said, aims to promote dialogue on four important issues -- the future of the Middle East, Iraq, the geopolitical situation and prospects for global and Middle East regional business.
In a WEF press release issued recently, Klaus Schwab, president and founder of the WEF, said: "This is a historic moment. We want to make positive contribution by boosting the economic and social development of the Middle East."
The meeting will be co-chaired by Peter Barbeck-Letmathe, vice-chairman and CEO of Nestle, Lord Browne of Madingley, group chief executive of BP, Phillip Condit, chairman and CEO of Boeing and Serge Tchuruk, chairman and CEO of Alcatel.
From the United States, Secretary of State Colin Powell and Trade Representative Robert Zoellick will attend. The European Union's High Representative for Common, Foreign and Security Policy Javier Solana is also expected to be there.
The meeting will be attended by more than 1,000 business and political leaders from around the world. Their aim will be to discuss urgent issues on the global agenda and to seek ways of replacing the recent period of confrontation with a spirit of cooperation.
Among the topics that are slated for discussion is a recent US initiative to create a North America-Middle East free trade zone within a decade. Powell and Zoellick are expected to present the initiative, as well as explore ways of strengthening Arab economies.
The extraordinary meeting will include discussions on specific matters relating to Iraq as an engine of growth for the region and the rest of the world. Participants will discuss the future of Iraq and search for ways to promote the country's reconstruction.
At the centre of the dialogue will be industry-specific discussions aimed at devising concrete strategic steps to help companies contribute to the economic prosperity of the region and the world.
According to Gabr, the Egyptian delegation will include nearly 20 people, including businessmen, experts, academics and media representatives.
The WEF has invited President Hosni Mubarak to deliver the opening speech, Sicre said. Moreover, he added that an Arab Business Council will be launched during the extraordinary meeting. The council will include 30 businessmen representing most Arab countries. The council, a WEF-affiliated business body, aims to improve the investment climate in the Arab world, in order to attract foreign direct investments to the region, whose share of total world investments, according to Sicre, amounts to only one per cent.
Al-Ahram Weekly Online : 5 -11 June 2003 (Issue No. 641)
Located at: http://weekly.ahram.org.eg/2003/641/ec4.htm