On behalf of King Abdullah, Custodian of the Two Holy Mosques, Prince Khaled Al-Faisal, Emir of Makkah province, inaugurated the 27th session of the Global Understanding Council at King Abdullah Economic City here on Monday by thanking participants for “giving the Kingdom the chance as a government and people to have an influence on the direction of human civilization in this advanced age”. Prince Khaled went on to speak of efforts by King Abdullah to bring global advancement to the country and its people. “This emanates from the belief of this country and its people that civilization belongs to mankind, and is not eastern or western,” he said. “It is one civilization that is transferred from one nation to another and from one land to another, and man shoulders the responsibility of carrying it on its historical path on this earth and in this life.” Prince Khaled added in a press statement that the Kingdom was now a center of global attention. “It is no longer the country that was only affected by global events and thought, but instead now influences global events and thought,” he said. He said the holding of the conference in Saudi Arabia “reflected the country's bright future and its approach to development and reform, and the cultural transformation the Kingdom is witnessing.” “The presence here of this global political and economic elite with its views, experience and global standing is an indication of the Kingdom's standing in the world,” he said. Prince Khaled said he expected such conferences to add to Saudi thought and increase Saudi participation in global politics, socio-economics and culture. “I recently said that we were looking to advance to the first world, but instead the first world has come to us,” he said. “Now they are on our land. How we make use of their presence is the question.” Other speakers at the inauguration included former German Chancellor Helmut Schmidt and former Canadian Prime Minister Jean Chrétien. Chrétien expressed his hope that recommendations from this 27th session would contribute in achieving peace and stability in the world. Also speaking was Amr Dabbagh, Governor of Saudi Arabian General Investment Authority, who stressed the Kingdom's commitment to boosting its global competitiveness and to improving the local and foreign investment environment. Dabbagh described the Saudi economy as having great potential due to its incentives and privileges that are not found in many other countries. He cited neutral economic reports as putting the Saudi economy's structure among the best in the world. “The strength of the Saudi economy has been proved by the limited effect of the global financial crisis has had on it,” Al
