Yann Zopf, Director, Public Engagement; Tel.: +41 (0)79 204 1610, yann.zopf@weforum.org
Istanbul, Turkey, 29 September 2014 – A more integrated Middle East and Eurasia will lead to peace and stability in the region, just as the European Union project that started following the end of the Second World War, said Ali Babacan, Deputy Prime Minister for Economic and Financial Affairs of Turkey, at the World Economic Forum Special Meeting on Unlocking Resources for Regional Development, taking place in Istanbul on 28-29 September.
“We want borders to be irrelevant in this region,” Babacan added, noting that is why Turkey had lifted visa restrictions and signed a number of free trade agreements with neighbouring countries. Although there are difficulties maintaining stability in the region – including the conflicts in Syria and Iraq, and the Ukraine-Russia situation – he said that “coming together with certain ideas can bring benefits to all countries.”
With Turkey set to take over the G20 chairmanship, Babacan said his country would continue to make strong economic growth a priority, but would also focus on supporting small and medium-sized enterprises and improving employment opportunities. It would also work to bridge the gap between the G20 and least developed countries.
Giving an overview of the global economy, Victor Halberstadt, Professor of Economics, Leiden University, Netherlands, opined that most regions have overcome the financial crisis, and that the only region lagging is the Eurozone. One of the major challenges to the global economy, he said, continues to be unemployment.
According to Tarek Sultan Al Essa, Chief Executive Officer and Vice-Chairman of the Board, Agility, Kuwait, 170 million jobs in the Middle East region are needed by 2020. “If we can’t tackle this issue, we are going to be responsible for the largest talent pool for extremism,” he said. “We spend too much time focusing on politics and not enough on addressing opportunity.” This can be done by making it easier to start and run new businesses, invest in education and make sure that all parts of society benefit from growth.
Unlocking resources for regional development – the theme of the Special Meeting in Istanbul – requires ensuring an inclusive economy and entrepreneurial spirit,” said Philipp Rösler, Managing Director and Member of the Managing Board, World Economic Forum.
“The only sustainable resource and driver of growth is our young people,” stressed Majid Jafar, Chief Executive Officer, Crescent Petroleum, United Arab Emirates, “The key lesson for my region, MENA, is that the youth bulge is an opportunity. If we can find meaningful employment and engage this population it will drive this growth.”
Uwe Krüger, Chief Executive Officer, WS Atkins, United Kingdom, concurred. “We have a social responsibility to include young people and make them employable.”
Afsin Yurdakul, Chief Foreign Editor, Habertürk TV, Turkey, said the region has a promising youth potential that, if addressed in the right way, can lead to sustainable growth. “It’s about young people and the future of this region.”
The Programme Champions of the World Economic Forum Special Meeting are: Majid Jafar, Chief Executive Officer, Crescent Petroleum; Uwe Krüger, Chief Executive, WS Atkins, United Kingdom; Tarek Sultan Al Essa, Chief Executive Officer and Vice-Chairman of the Board, Agility, Kuwait; and Afsin Yurdakul, Chief Foreign Editor, Habertürk TV, Turkey.
Notes to Editors
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