His Majesty King Abdullah on Saturday thanked the Arab Business Council (ABC) for its efforts to promote Arab business ties with other countries.



At a meeting with ABC representatives during the World Economic Forum (WEF), the King said he has been closely following the activities of the council. He referred in particular to a study the council is conducting on competitiveness in the Arab private sector and the meetings it held in April in Singapore with Asian business leaders.



The ABC comprises the leading representatives of the Arab private sector who are committed to enhancing economic competitiveness in the Arab world.



His Majesty said Jordan is willing to cooperate with the ABC to develop the relationship between the public and private sectors in the Arab region.



ABC President Shafiq Jaber briefed His Majesty the King on the achievements of the council, which recently set up the first Arab competitiveness panel in Egypt, to be followed by similar committees in Jordan, Bahrain, Qatar and Kuwait.



Also today, King Abdullah met with members of the International Business Council taking part in WEF meetings.



Finance Minister Bassem Awadallah gave a presentation on the developments witnessed by the national economy, noting that the country recorded a growth rate of 7.5 per cent last year and reduced the ratio of public debt to GDP to record levels.



Minister of Industry and Trade Sharif Zu'bi focused on the amendments made to legislation in Jordan to attract foreign investments in addition to the Kingdom's privatisation experiment.



Meanwhile, King Abdullah held meetings with several heads of delegations taking part in the WEF.



He met separately with European Parliament President Joseph Borrell, Irish Minister of Communications, Marine and Natural Resources Noel Dempsey, Mohammad Al Zubair, an adviser to Sultan Qaboos of Oman.



The King also held meetings with President of the Spanish Province of Catalonia Pasqual Mira, Kuwaiti Minister of Energy Mohammad Juweini and US Congresswoman Jane Harman (D-California), among other key participants in WEF.



In addition, King Abdullah met with several WEF participants and briefed them on the mission of the King's Academy.



He said the educational institution, which will open its doors to Jordanian and Arab students, seeks to develop quality education in the region and prepare a generation of leaders equipped with the tools of modern knowledge.



In April last year, King Abdullah laid the cornerstone for the new secondary school, a co-educational boarding school that will replicate the US-based academic institution where he completed his high school.



Inspired by King Abdullah's formative experience at Deerfield Academy, the King's Academy, which will be located in the rural town of Manja, is designed to guide students towards the highest international standards of educational achievement.

The Jordan Times