Today sees the start of the latest Jeddah Economic Forum, an event, which since it began in 1999, has grown to the point where it can claim to be the region’s strategic think tank which looks in fine detail at local, regional, and international economic and social issues from a regional perspective. This 2004 forum seems set to be the most informative yet. Beneath the banner “Achieving Accelerated Growth” more than a thousand business leaders and opinion formers from around the world will be gathering at the Jeddah Hilton.
This year, the growing role of women in business will be emphasized by the fact the opening address today is being delivered by Lubna Olayan, one of the Kingdom’s leading businesswomen and the chief executive officer of Olayan Financing Company. Among other female participants will be Queen Rania of Jordan, Crown Princess Victoria of Sweden, Professor Laura Tyson, dean of the London Business School and Dr. Thurayya Arrayed, planning adviser to Saudi Aramco.
Today’s proceedings will focus on Saudi Arabia and the creation of foundations for sustainable wealth. Tomorrow the spotlight will turn to the regional agenda looking at economies in Asia and the Middle East. Among the senior political leaders who will be contributing here will be the Turkish Premier Recep Erdogan, the Lebanese Premier Rafik Hariri, the recently retired Malaysian Premier Mahatir Mohamad and the foreign minister of Kazakhstan, Dr. Kassymzhomart Tokayev. The presence of Samir Shakir Mahmood, member of Iraq’s Governing Council representing post-Saddam Iraq, is significant in many ways.
The third and final day will shift the focus to international issues and look at the ways to accelerate growth worldwide. The keynote speaker will be former US President Bill Clinton, making his welcome second visit to the forum, in a session that will be moderated by Prince Faisal ibn Salman, chairman of the Saudi Research and Marketing Group, publishers of this newspaper. There will also be contributions from the former Mexican President Ernesto Zedillo and Sweden’s minister for international economic affairs and financial markets, Gunnar Lund.
Within what promise to be a fascinating series of presentations and debates, probably the very greatest attention should be paid to the words of Dr. Supachai Panitchpakdi, director general of the World Trade Organization, who will wind up the forum with a final address. WTO membership is going to bring many far-reaching changes to the Kingdom, for which both government and business are busily preparing. This is therefore a most important event at a most important time in Saudi Arabia’s history. We would like to wish all participants a fruitful and enjoyable three days.
