The Middle East region has enormous natural resources, huge financial capabilities and great human potential, but these capabilities have not been effectively utilised, said H E Ali Shareef Al Emadi, Minister of Finance, yesterday.
Inaugurating the 14th edition of the high-profile ‘Enriching the Middle East’s Economic Future Conference’ here yesterday, H E Minister Al Emadi stressed the need to fill important gaps that hinder the development process, including the need for integrated plans to develop vocational education and training, laws and legislation for the business environment, as well as support innovation and small and medium-sized enterprises and promote the participation of the private sector in economic activity.
H E the Minister noted that this year’s conference is happening under complex circumstances when the world is witnessing fundamental challenges and transformations in the economic arena and increasing protectionist policies and trade disputes between big powers, which affects the development and economic growth efforts in various regions of the world, including the Middle East.
Ever since its launch in 2006, ‘Enriching the Middle East’s Economic Future Conference’ has been focusing on discussing economic developments in the Middle East and Asia, and studying solutions and initiatives for the economic challenges facing the region. He said that it’s a unique opportunity and an effective international forum that attracts distinguished experts and businessmen from all over the world to discuss various issues including economy, energy, free trade, security, crises and challenges in this region.
He noted that crises and serious challenges in the region won’t find the desired positive solutions unless there is dialogue and consensus, and there is a sincere desire to meet with stakeholders and experts in order to develop a common vision to address the problems and crises escalating in the world, especially the Middle East.
The two-day event has brought together more than 270 prominent figures from 73 countries, who will discuss the most important challenges in the Mena region with the participation of research experts, academics, businessmen and decision-makers from around the world.
The 14th edition of the conference is organised by the Permanent Committee for Organizing Conferences at the Ministry of Foreign Affairs in partnership with the UCLA Center for Middle East Development (CMED).
The two-day conference will provide an overview of the most important issues in the region and the world, while sharing ideas and insights on the future prospects of the Mena region and the world in the economic field.