Saudi Arabia - Jeddah Economic Forum 2008

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Prince Turki Al-Faisal shares his experiences with delegates at JEF on Sunday. (AN photo)

Jeddah Economic Forum 2008:
Day Two

Speakers Exchange Views at JEF
Hassna�a Mokhtar & Lulwa Shalhoub

JEDDAH � The second day of the 9th Jeddah Economic Forum kicked off with an electrifying first session that included three absorbing speeches delivered by a self-critical Prince Turki Al-Faisal, former Saudi ambassador to the UK and the US, a confident Dr. Haris Silajdzic, president of Bosnia, and a highly articulate Dr. Salam Fayyad, prime minister of Palestine.

Silajdzic, speaking in fluent Arabic, recalled the sacrifices that Bosnians made in their march to freedom and said that the oppressors were devoid of any feelings in their hearts and carried out attacks not for any financial gain but on account of an ideology that was highly exclusive.

�The aggressors� hearts were empty,� he said. Silajdzic also appealed to the Saudi business community to invest in his country because it is a shining example of universal tolerance.

Fayyad said that despite all promises made at the Annapolis Conference, the Palestinians were still suffering at the hands of the Israelis and checkpoints still remain in place, making life miserable for Palestinians. He acknowledged the help from various donors but said a lot needed to be done on the political front for people to feel a tangible difference in their lives.

Meanwhile, Prince Turki admitted, in retrospect, he may have failed to provide his children and grandchildren with a better world rather than the one he inherited.

The three were deliberating on the theme of �From the �House� to the World,� a reference to the Holy Kaaba in Makkah.

In his speech, Silajdzic � who began by thanking the Saudi Arabian leadership and population for continuously supporting Bosnia financially and emotionally � outlined that there is a need to overcome conflicts between civilizations.

He emphasized that Bosnia is a role model that must be followed by other countries for there to be coexistence.

�The Bosnians, through their authentic culture and principles, have learned how to coexist with others and offer them support and protection. Our country is not just a piece of land somewhere in Europe. It is a symbol and model of success and failure as well... we paid and are still paying the price of keeping these principles,� he said.

�The world today needs models and examples such as Bosnia. In this era of globalization, the world resembles Bosnia,� he said, adding that dialogue is important and is the only way for globalization.

�I am standing here near the sacred lands of the Two Holy Mosques and the Kaaba. New culture and principles started from Makkah. In the Holy Qur�an, Allah says, He made mankind �to meet and know each other,�� he said, adding that this is the concept of globalization today. Silajdzic said that Bosnia is not usually cited as an example to learn from and that only its negativities are mentioned.

Meanwhile, Prince Turki said he blames himself for lacking in political development and social misgivings. �I say to you, ladies and gentlemen, that my generation has failed to meet these challenges that face us all. I hope that my children and my grandchildren will succeed in leaving behind them a better world for their children,� he said. He further stressed that those who do not learn from their mistakes are bound to make them again. �From the theme of this forum �Value Creation Through Partnership and Alliances,� we have to operate within a global society. Let�s not be afraid of committing mistakes, but learn from them,� he said. �The emphasis is on education, education and education.�

Prince Turki, quoting Custodian of the Two Holy Mosques King Abdullah during the recent Islamic Summit, called for Muslims to work together to alleviate poverty. �We should work together to alleviate the poverty of our fellow human beings. We also should improve education as means of alleviating poverty,� he added.

Highlighting the historical importance of Saudi Arabia as being �the cross roads and center of commerce of the world� Prince Turki said that the Saudi economic horizons could no longer be limited by national horizons. �As a member of the World Trade Organization, Saudi Arabia is now truly open for business,� said Prince Turki. �We must generate an understanding that the only way for us to continue to improve our condition is to reach out to those around us,� he said. During the panel discussion on how communities build their alliances, Nahed Taher, founder and chief executive officer of Gulf One Investment Bank, expressed her concerns about the misunderstanding of alliances. She raised the issue of people coming to the Kingdom thinking of it as an investment pocket and how it is creating a big funding gap.

Prince Turki agreed with Taher�s comment. �You�re right. We have to bring people to work with us and invest in our economy,� he said. �It�s not simply a matter of us having wallets full of cash.

The world is different now thanks to young people, especially in Saudi Arabia, who are engaged in entrepreneurship and providing services to other people.� Prince Turki said that Saudi Arabia no longer relies on oil and that there are other alternatives that are taking over. If an American, European or Japanese investor is seeking cash, he�ll be surprised what his Saudi counterpart asks of him. �Those who seek to steal money from Saudi, will find it to be a much more difficult place,� he said.

Source: Arab News

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