Speaking recently at the Jeddah Economic Forum, Former President of the United States Bill Clinton praised the Gulf Cooperation Council (GCC) region for leading the development of the Islamic world, but also claimed that opening up the economies to outside investment and trade was an act of global leadership.
Talking extensively about the historic and far-reaching relations between Saudi Arabia and the US, Clinton stated that the defense of the Kingdom was of vital importance to international relations and the US, adding, “Globalization has also brought us closer together, but it has also made us more vulnerable.” To tackle poverty in developing countries, he maintained, micro-credit was a key strategy, requiring the participation of the developed world.
Clinton’s comments were made prior to a speech delivered by one of the Middle East’s most powerful businessmen, the Saudi Prince Alwaleed Bin Talal. Talal, who insisted that the Kingdom must address key issues facing its society, including the large unemployment problem and the drastic need to diversify the Kingdom's economy away from oil.
The three-day forum, entitled Managing in a Complex Global Environment, was organized by the Jeddah Marketing Board (JMB). — (menareport.com)
© 2002 Mena Report (www.menareport.com)
