"The forum will discuss the outlook for the world economy in the next 10 years in the key sectors of banking and finance, energy and environment, trade, agriculture, industry, education, health and science and technology," said Abdulaziz Sager, chairman of the Gulf Research Center (GRC), organizer of the event.

As many as 1,200 Saudi and foreign delegates, including 370 businesswomen, are expected to attend the forum.

"About 15 percent of participants will be academics," the GRC chief said. "We have also extended invitations to Shoura members and government officials."

He said the topics to be discussed at the forum were selected by an academic committee comprising officials from leading educational institutions in Jeddah, including King Abdullah University of Science and Technology (KAUST) and King Abdulaziz University.

Prominent speakers from abroad include Yutaka Kase, president & CEO of Sojitz Corporation, one of Japan's leading worldwide general trading companies, Simon J. Evenett, professor of International Trade and Economic Development, University of St. Gallen, Switzerland, and Alejandro Jara, deputy director-general of the World Trade Organization (WTO).

Other speakers are Commerce and Industry Minister Abdullah Zainal Alireza, Petroleum and Mineral Affairs Minister Ali Al-Naimi, SAMA Gov. Muhammed Al-Jasser, IDB President Ahmed Mohammad Ali, KAUST President Choon Fong Shih, Swedish Trade Minister Ewa Helena Björling, and Jassim Al-Mannai, director general of Arab Monetary Fund (AMF).

Economist Faisal Al-Oqail highlighted the significance of JEF, saying it comes at a time when the world economy is facing major changes as a result of economic crisis.

"Experts will be able to analyze the current economic situation to give the right direction for the future global growth," he said.

Al-Oqail said Saudi Arabia would be able to learn from the experiences of other countries to strengthen its knowledge economy drive. "The forum also offers a good opportunity for Saudi Arabia to inform the world about its attractive investment climate," he said.

Economic forums, he added, also help promote foreign trade and enable Saudi businessmen to reach out to the world, opening new horizons of economic and investment cooperation with other countries. The newly established mega economic cities in Rabigh, Hail, Madinah and Jazan are designed to attract domestic and foreign investment worth more than $150 billion and create 1.5 million jobs for Saudis and expatriates.