Young Arab Leaders can play an influential role in shaping the Middle East's future

Delivering a special address on the opening day of the Young Arab Leaders Forum in Dubai on Saturday, Schrempp said that YAL's initiatives can be instrumental in creating a new generation of highly-qualified young leaders.

DaimlerChrysler, he said, is committed to establishing a strategic association with YAL. "Our involvement with YAL is a healthy mixture of pragmatism and idealism. Our success in the region depends on our ability to train and develop young local leaders who will drive the company's future in the Middle East." As part of its participation in YAL's internship programme, DaimlerChrysler recently selected two interns to work at its Kuwait offices."

DaimlerChrysler also contributes to skill development in the Middle East through its Automotive Academies established in Kuwait and Palestine that provide post-graduate training for technical graduates, he said.

Tremendous satisfaction

DaimlerChrysler's association with YAL also enables it to participate in the development of the region. "We derive tremendous satisfaction from creating sustainable wealth through such initiatives," said Schrempp.

Stressing the importance of corporate social responsibility, the DaimlerChrysler Chairman said, "Only companies with genuine public appeal can succeed." Companies need to have a comprehensive corporate social responsibility vision to build such public appeal, he pointed out.

EU-Middle East partnership

Speaking on Europe's relationship with the Middle East, he said that the regions share a strong mutually beneficial relationship. The Middle East can help Europe meets its energy needs while the Middle East can rely on Europe for a steady transfer of know-how.

Schrempp said both regions shared extensive historical links with considerable scientific knowledge coming into Europe from the Arab world. "We need to follow this path and open the way for greater understanding and tolerance between the two regions," he said.

DaimlerChrysler operates in 12 countries across the Middle East including the United Arab Emirates, Saudi Arabia, Kuwait, Bahrain, Qatar, Oman, Yemen, Lebanon, Syria, Jordan, Pakistan and Afghanistan. Today, the DaimlerChrysler Middle East organisation has a total of 83 employees and is responsible for nearly US $1 billion of revenue.