World Economic Forum on Middle East highlights key achievements

Including the reconstruction of Iraq, the Palestinian-Israeli conflict, the lack of essential infrastructure and the need to create 80 million jobs over the next 20 years. "There must be a stronger dialogue between politics and business to move the peace process forward," said Co-Chair M. Shafik Gabr, Chairman and Managing Director, Artoc Group for Investment and Development, Egypt, and Chairman of the Arab Business Council. "Time is of the essence." More than 1,100 participants from 50 countries attended the three-day meeting. Next year's Forum will return to the Dead Sea in Jordan where it had been held for three years before coming to Egypt.

The Co-Chairs reported on the achievements of the World Economic Forum on the Middle East. Among them:

The Forum hosted the highest-level talks in 11 months between Israel and the Palestinian Authority.
By linking a group of students with ministers from the region through the Young Global Leaders community, the Forum expanded its network to foster communication and exchange among young people.
The Forum launched the Egypt Education Initiative to benefit 820,000 children in 2,000 schools.
The Women Leaders Programme held a meeting of women ministers from across the Middle East to devise a five-year action plan for public- and private-sector cooperation to address the gender gap.
The Forum moved to launch a private sector-funded branding campaign for the Middle East.
The Forum recognized Egyptian social entrepreneurs for promoting sustainable business practices.
Egypt's National Competitiveness Council published its third report.
Egypt agreed to consider amendments to its open-skies policy.

In reviewing the meeting's outcomes, the Co-Chairs stressed the importance of the private sector, youth, women and open markets in tackling regional issues. "The private sector can help in growth, jobs and employment," William R. Rhodes, Chairman, Chief Executive Officer and President, Citicorp Holdings and Citibank, USA, argued. Added H.R.H. Princess Lolwah Al Faisal, Vice-Chair of the Board of Trustees and General Supervisor, Effat College, Saudi Arabia: "We need a dialogue to listen to the needs of the young so we can turn the 'youth bulge' into assets we can be proud of."

Nemir A. Kirdar, Founder, President and Chief Executive Officer, Investcorp, United Kingdom, focused on human resource development, particularly the empowerment of women. "We have to get women involved in the building of economies," he declared. "We cannot have a society that is competitive if 50% of the economy is under-utilized." Entrepreneur Stelios Haji-Ioannou, Chairman, easyGroup, United Kingdom; Young Global Leader, pressed for further market liberalization, particularly in the Travel and Tourism sector. "We need to see more privatization," he advised. "If you open your markets and give opportunities to both men and women, this region will do fantastically well."

Mohammed H. Almady, Vice-Chairman and Chief Executive Officer, Saudi Basic Industries Corporation (SABIC), Saudi Arabia, said that the region should have a strategic plan: "We must have a shared vision. If we can articulate it with each other, then we will benefit the whole region."

Before the meeting closed, H.M. Queen Rania of the Hashemite Kingdom of Jordan discussed reform, democratization, the gender gap and education with Klaus Schwab, Founder and Executive Chairman of the World Economic Forum. "Beyond the process [of political and economic liberalization]," Queen Rania said, "there are the values we have to instil such as tolerance, respect for human rights, and property rights, that make the processes successful, sustainable and genuine." She invited participants to come to Jordan next year. Closing the Forum, Schwab lauded the passion, frankness and energy of participants: "We have to make sure that the spirit of the Dead Sea and Sharm El Sheikh is carried outside this house. If we create a movement to look at matters in a positive way, the development of the world will flow in a positive way."