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World Economic Forum on Middle East opens in Jordan Friday
Published in Saudi Press Agency on 14 - 05 - 2009

The World Economic Forum (WEF) opens a conference on the Middle East in Jordan on Friday that is expected to see the participation of about 1,300 political, business and civil society
leaders from 80 countries, according to dpa.
Jordan's King Abdullah II is to open the three-day gathering that
will take place on the eastern shore of the Dead Sea, with the theme:
"Implications of the Global Economic Crisis for the Middle East:
Home-grown Strategies for Success."
"The Middle East's aspirations for prosperity will be challenged
as it attempts to restore its own growth while navigating a complex
geopolitical landscape," according to the WEF.
The conference is to consider the impact on the Middle East of the
global financial crisis and the deepening recession, given the large-
scale erosion of the region's assets value due to the highly volatile
energy markets.
"The summit will focus on sharing knowledge and innovation across
themes ranging from financial market architecture and climate change
to emerging market infrastructure", the WEF said.
Prominent analysts have estimated the losses incurred by Arab
sovereign funds and stock markets, particularly in the oil-rich Gulf
region due to the global economic downturn, at more than one trillion
dollars.
The role that Arab surplus petrodollars could play in the
international economic recovery has been the subject of discussion
within and beyond the region.
The fifth WEF on the Middle East will for the first time bring
together leading scientists from the region and the world to engage
decision-makers in a dialogue on a forward-looking agenda for science
and research in the Middle East, according to organizers.
Leading energy strategists and their counterparts in government
and academia would also address "the future of the industry in the
light of the energy price volatility."
"They will also focus on energy security, the business case for
scaling up alternative energies and energy-water linkages," it added.


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