Arab and Asian leaders seek common values at Young Arab Leaders Global Action Forum

Organised under the patronage of His Majesty King Abdullah II Bin Al Hussein of the Hashemite Kingdom of Jordan and Senior Minister Goh Chok Tong of the Republic of Singapore, the 1½ day forum brings together over 150 government, business, academic and civil society leaders from Asia and the Middle East.

The YAL Global Action Forum: Arab and Asian Dialogue presents participants with an invaluable platform to exchange information and insights into the two regions as they seek to build strong, long-lasting relationships that extend beyond business opportunities. Participants were addressed by His Royal Highness Prince Feisal Bin Al Hussein of Jordan, Singapore's Senior Minister Goh Chok Tong and Minister Mentor Lee Kuan Yew.

His Majesty King Abdullah II Bin Al Hussein, in a speech delivered by HRH Prince Feisal Bin Al Hussein, expressed his keenness to support the Young Arab Leaders and stressed the importance of building trust between the Arab leaders and their Asian, European and American counterparts through dialogue and the exchange of ideas.

Addressing the forum, Senior Minister Chok said: "What is propelling this interaction is the belief that Asia and the Middle East can benefit by consolidating our friendship and cooperation. Although there are significant cultural differences, we also share similar interests and common challenges. We do not have deep historical baggage or ideological barriers preventing us from developing closer ties. We can benefit from sharing experiences and working together.

"Over the past decade, trade and investment between the Middle East and Asia have quadrupled. This growth will continue into the future. Asia's dependency on the Middle East for energy will also continue to grow. Some analysts have described the revival of commercial linkages between Middle East and Asia as the setting up of a "New Silk Road.

During the forum, participants will address common issues which affect both Asia and the Middle East in three strategic areas - economy-plus, culture of media and thought leadership.

Both regions are characterised by their ethnic and religious diversity, an aspect that offers both governance opportunities and challenges in developing and implementing policies that meet the needs of the populace and generate public value. It is anticipated that that there will be discussions of successful and failed innovations in institutional structuring, transparency and sound fiscal and economic policy that take stock of the development models that Asian and Arab countries, during the forum.

Similarly, and on the corporate level, an Arab-Asian dialogue based on private-sector thought leadership, that examines accommodation to new and alien corporate cultures, and the forging of partnerships within the private sectors and with governments, may be able to address many of the non-institutional barriers that have traditionally limited investment between the two regions.

Said Mr Saeed Al-Muntafiq Chairman of the Board of YAL and Executive Chairman of Tatweer, UAE: "These strategic areas highlight opportunities for two closely-linked regions to build on our common values and to grow more integrated economically, socially and culturally.

"However, there is still a lack of awareness and understanding of the Middle East and Asia, and their respective business and social environments. But we are confident that this Global Action Forum is a step in the right direction. The enthusiasm and commitment shared by the participants demonstrate that we are all willing to contribute towards our common goal of building a prosperous environment by creating opportunities for our youth in education, leadership development and entrepreneurship."

The YAL Global Action Forum: Arab and Asian Dialogue is being held at The Ritz-Carlton, Millenia Singapore from April 27 to 28. Partners for the forum include strategic partners, TATWEER and Gulf Finance House; organising partner, Citigroup; sponsors, DIFC Investments, Dubai International Financial Exchange, Dubai Aerospace Enterprise, American University of Dubai, Keppel Group and Singapore Tourism Board; and knowledge partners, Gulf Research Centre, Lee Kuan Yew School of Public Policy, INSEAD and Dubai School of Government.