The World Economic Forum (WEF) concluded here on Sunday with appeals for swift and comprehensive reforms in the Arab world and increased engagement in global trade.



“As you know, there has been an international spotlight on the question of Middle East reform... friends of the Arab world understand that real reform must come from inside the region... and it has already begun,” His Majesty King Abdullah said at the closing ceremony.


The King said the forum highlighted the core reality of the region that peace and security in Palestine, Israel and Iraq must be achieved. “The entire world has a stake in Middle East peace and development,” the King said.


Speaking during an earlier plenary session, WEF co-chairs urged that Arab reform processes be backed by the leaderships in the region.


Ibrahim Dabdoub, CEO of the National Bank of Kuwait, said the need for comprehensive reform and change was clear. But he added that “the question is not whether things are changing, but whether they are changing fast enough to keep pace with the rest of the world.”


The appeal for enhanced trade engagement was highlighted by Victor Chu, chairman and CEO of First Eastern Investment Group in Hong Kong.


Chu said the Middle East and Asia are undergoing fundamental structural changes and the message is “that Asia, particularly China, has rediscovered the Middle East and the importance of engaging with each other.”


He said the expected “spectacular engagement in the next 25 years” would involve strategic, cultural and economic interactivity.
Addressing the participants prior to the wrap-up by the co-chairs, Egyptian Prime Minister Ahmed Nazif said the three-day Dead Sea event “demonstrated the willingness and popular support of the Arab world to drive change.”


“It's clear, not only do we want to improve our local and regional welfare, but we are keen to integrate the Arab economies into the global arena,” said Nazif, adding that the King's vision “transgressed the boundaries of his country.”


Meanwhile, WEF Chairman Klaus Schwab announced Sunday that the next forum would be held in Sharm El Sheikh from May 20 to 22, 2006.


The forum will return to the Dead Sea in 2007, Schwab said. He thanked King Abdullah for initiating the convening of WEF in Jordan, describing the Kingdom as “home” for the forum.

The Jordan Times