JEDDAH, 21 February 2005 — Prof. Klaus Schwab, founder & executive chairman, World Economic Forum, considers the Jeddah Economic Forum 2005 as one of the most important regional and international gatherings. The forum partially answers the need for international changes being witnessed around the world in different fields.
Prof. Schwab pointed out the current priorities facing the world and the international economy — such as the increase in poverty, directing globalization to serving the interest of countries and nations and global warming along with its related problems. Prof. Schwab considers reducing poverty a means of fighting terrorism. He pointed out that globalization must be directed toward development so that all countries will benefit directly from it.
Prof. Schwab said that 2004 was not a good year for international relations and that this directly affected the growth rate. He hoped that US President George W. Bush’s current trip to Europe would ease tensions and see a return to the path of international cooperation in order to face issues that concern the world.
He said that the world was in need of international leadership to carry out reform that qualify societies to be able to compete and contribute to economic and social development. Prof. Schwab pointed out that Arab economies grew 4 percent in 2004 and that the Arab countries need to create more than 3 million jobs a year in order to absorb the growing numbers of young people.
