JEDDAH: The Council for International Understanding (CIU), which begins its three-day conference at King Abdullah Economic City (KAEC) in Rabigh today, will focus on energy and environmental issues, said former Swedish Prime Minister Ingvar Carlson, assistant chairman of the council.
On behalf of Custodian of the Two Holy Mosques King Abdullah, Makkah Gov. Prince Khaled Al-Faisal will open the conference in the presence of 28 present and former heads of state and more than 200 Saudi and foreign delegates.
Former German Chancellor Helmut Schmidt, who is honorary president of the council, will speak on the “Present World Situation” while Carlson will deliver an introductory speech about the council and its significance.
Amr Al-Dabbagh, governor of Saudi Arabian General Investment Authority (SAGIA), will speak on the investment climate in Saudi Arabia. The council will issue its recommendations at the end of the three-day conference that will contribute to solving international problems.
Carlson has highlighted Saudi Arabia’s leading role in the global economy. “When oil prices soared to more than $140 per barrel, mainly as a result of speculative trading, Saudi Arabia moved quickly to bring down prices by increasing production,” he pointed out.
Saudi Arabia is a major player for world economic stability, Carlson said. “It also plays a positive political role in the Middle East,” he added, and praised the Kingdom’s investment in energy and modern technology. “The international community wholeheartedly welcomes Saudi Arabia’s efforts in these areas.”
Speaking about the conference, Carlson said it would start by reviewing the situation in a particular country or situation of the world in general. “Middle East issues will figure high in these discussions,” he said, adding that previous meetings had discussed the Arab-Israeli conflict and situation in Iraq.
“Instability is one of the major problems facing the world economy. Energy price fluctuation is a big enemy of development,” he said.
He said if Saudi Arabia and other countries succeeded in preventing oil price fluctuation and confronted speculative trading, it would have a tremendous positive impact on the international economy. “It will also help poor countries a great deal,” Carlson said.
He said the council promoted freedom and open discussion by world leaders. “Since its members are not in power, they will have the freedom to give their views and opinions without any restrictions,” he pointed out.
Carlson said the international community would benefit from the CIU’s valuable views. “The CIU does not represent a particular region. Its members come from African, North American, Latin American, Middle Eastern, European and Asian countries. It seeks to bring about a consensus in the views of world leaders.”
He said the CIU had published several studies on international law, the future of the United Nations and the need to make changes in the world financial structure.
Fahd Al-Rasheed, CEO of Emaar Economic City Company, said KAEC’s hosting of the event was the result of the continuous support of King Abdullah to the economic city, which is considered the largest single private sector investment project in the Kingdom.
Located by the Red Sea coast on an area of 168 million sq. meters, the KAEC has six key components — the sea port, industrial zone, central business district, educational zone, resort district and residential communities.
