Egypt to host the World Economic Forum on the Middle East next May in Sharm El Sheikh

The Memorandum of Understanding was signed between Rachid M. Rachid, Egypt's Minister of Trade and Industry, and André Schneider, Managing Director and Chief Operating Officer of the World Economic Forum.

The World Economic Forum on the Middle East will feature a fresh and future-oriented approach to shaping the agenda of the Middle East and North Africa. Building on the Forum's unique reputation as a neutral platform for dialogue and discussion, the programme will stimulate participants to think creatively and collaboratively about the future of the region. The emphasis will be on facilitating new connections, provoking innovative ideas and providing fresh perspectives. More than 1,200 participants drawn from the highest level of government and business worldwide are expected to take part in the meeting.

"Enthusiasm, drive and professionalism characterized the meeting in 2006 and I know that 2008 will only be better. I look forward once again to a fruitful relationship and, more importantly, to the Forum on the Middle East's concrete success in May. Egypt is a perfect choice to bring leaders both globally and from across the region together - it's a chance for businessmen and women, politicians and others to address the problems that are holding back development in the Middle East,"

André Schneider said.

According to Minister Rachid M. Rachid, the World Economic Forum's decision to return to Egypt "amounts to a vote of confidence by the global community in Egypt's efforts to state the course of reform and market liberalization." This is an important time to turn the spotlight on the challenges and opportunities that a modern Middle East faces and Egypt is well placed to host this world-class event. "At a regional level, Egypt continues to play its traditional role in brokering efforts to bring peace and stability to the region. At home, Egypt is actively engaged in reforms to open up its economy and society to the opportunities of globalization," he added.