day Jeddah Economic Forum (JEF) was inaugurated Saturday under the patronage of Prince Khaled Al-Faisal, Emir of Makkah Region, under the banner “A 21st Century Transformation: The Impact of Global Forces”, with a number of national and international participants. Speaking on the occasion, Prince Khaled Al-Faisal welcomed all the participants from different countries and expressed his appreciation for their participation in the forum. He laid emphasis on the importance of the topics the forum will discuss during its sessions. Turkish Prime Minister Recep Tayyip Erdogan, who was also the guest of honor, expressed his content and the good relationship between Saudi Arabia and Turkey. He said the Jeddah Economic Forum (JEF) is an important event to discuss major topics of global interest. The Jeddah Economic Forum 2011 has been organized with the aim to make this year's forum an event that leads to mutual investments among large and small companies, with a common interest in the economic development of the Middle East and the Kingdom of Saudi Arabia. The forum aims at highlighting the experience of global markets, with discussions on environmental matters of local, regional and international importance. Also experts will discuss the next decade's economic powers, challenges faced by countries and companies, the large transformation in global economies, and the future of partnerships between the private and public sectors. The chairman of the Board of Directors of the Jeddah Chamber of Commerce and Industry (JCCI), Sheikh Saleh Kamel, thanked King Abdullah, Custodian of the Two Holy Mosques, for his support and encouragement for the establishment of such forums in various parts of the country and said that the participation of Prince Khaled Al-Faisal will have a great impact on the event. Kamel said Jeddah will become the center of economic growth and development with the help of Allah and support of the Kingdom and the people. He also lauded the continued support of Prince Khaled Al-Faisal and said that this year the forum will be different because the JCCI has put all its efforts into initiatives to make it different. He said that JCCI has formed a committee to provide jobs to Saudi youth. Saleh also thanked the Turkish premier. He said his rich experience and presence at the forum will help boost the economy of the Kingdom and Gulf countries. Abdullah Zainal Alireza, Minister of Commerce, also stressed the need for vocational, technical training and education so as to improve the economy. During the four-day event, experts will focus on building a prosperous and stable society through Islamic financing. Currently the Islamic financing sector is worth more than a trillion dollars, which is only one percent of the world's finance. Other important issues to be discussed will be “the building of a successful middle class, technological change and its use to boost the Kingdom's productivity. A number of Saudi officials, businessmen, intellectuals, economists and experts participated in the opening ceremony of the Jeddah Economic Forum.
