The global economy faces unique uncertainties. China’s reopening is set to provide a welcome boost to global growth, offsetting weakness in Europe and a lingering recession risk in the US. But China’s post COVID pivot could bring inflationary pressures at exactly the moment the US Federal Reserve and other central banks are bringing them back under control.
Look beyond China-US-Europe centric headlines, however, and you can uncover a major shift in the existing economic order: In a world defined by a 19th century-style battle for resources, more assertive economic statecraft and an eagerness for more resilient and geopolitically neutral trade partners, the economic nexus between the Gulf, India, and Southeast Asia is rising in global importance–and looks set to drive global growth and optimism into the next decade.
In the Gulf, Qatar and its neighbors are capitalizing on the opportunity. The region’s sovereign wealth funds, flush with oil and gas revenue from the energy crisis, are competing to fill the US$3 trillion liquidity gap left by Wall Street’s retreat. And with global supply lines rerouting and the epicenter of global growth shifting Eastward, the Gulf is increasing the pace of reforms and opening up to meet the world on its terms.
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Against this backdrop, the 3rd Qatar Economic Forum, Powered by Bloomberg, will shine a light on the rising south-to-south economy and the new growth opportunities it presents to the global business community. Promoting both established viewpoints and emerging voices from around the world, the Forum will identify the latest economic trends that will drive us towards a new global growth story.
Official partners of this important event are: Ministry of Commerce and Industry, and State of Qatar and Media City, Qatar. Presenting sponsors are: Qatar Investment Authority, QNB, and QRDI Council.
Chairperson of the Supreme Committee Organizing the Qatar Economic Forum (QEF) and CEO of Media City H E Sheikh Ali bin Abdullah bin Khalifa Al Thani emphasized the great success achieved by the second edition of Qatar Economic Forum, Powered by Bloomberg, which was held in June last year, revealing the launch date of the third edition, which is scheduled for May 23-25.
In his interview with QNA, Chairperson of the Supreme Committee Organizing the Qatar Economic Forum said that the 3rd edition, which is expected to take place May 23-25, will attract more influential business leaders, academics and heads of government to highlight the necessary innovations to move the global economy forward.
He pointed out that the second edition of the Qatar Economic Forum brought together around 1,000 participants, including CEOs, inspiring entrepreneurs, innovative business leaders and others, adding that their goal was to formulate a dialogue bank to find solutions to some of the most pressing global challenges, such as the ongoing supply chain crisis, the gap between future jobs and the current capabilities of the workforce in the post-pandemic world.
He added that in the context of this globally important dialogue, participants and government officials were received at the highest level, under the patronage of His Highness the Amir.
More than 75 keynote speakers participated, as well as prominent business figures such as the founder of Tesla Elon Musk, Chairperson and CEO at TotalEnergies Patrick Pouyanne, Shell CEO Ben van Beurden, Executive Secretary of the United Nations Economic Commission for Africa Vera Songwe, as well as other global dignitaries and ministers from around the world.
He explained that the most important results of the dialogue was exchanging views and highlighting the future of the global economy and the responsibility towards achieving a comprehensive and sustainable recovery, recalling the MoUs that were signed on the sidelines of the Forum, such as those signed between the Qatari and Egyptian finance ministers to coordinate in the field of financial policies and their mechanisms.
Chairperson of the Supreme Committee Organizing the Qatar Economic Forum and CEO of Media City said that the second edition was an opportunity to seek the opinions of prominent personalities such as the CEO of Boeing Dave Calhoun, retired US Army General David Petraeus, KIA Board Member & Managing Director H E Ghanem Suleiman Al Ghenaiman, CEO of Syngenta J. Erik Fyrwald among others.
He said the Forum contributed to supporting an ongoing dialogue, which is not limited to one event. “The issues discussed earlier, such as the changing financial environment and the energy transition, will continue to define our strategy for the future of development”, he stated, adding that during May, other vital topics will be added to the Forum’s agenda.
Sheikh Ali bin Abdullah bin Khalifa Al Thani said that the World Cup Qatar 2022 and sports activities were main topics on the agenda of the second edition of the Forum in July. “The discussions focused on the economic and social impacts of the tournament. We were honored to have listened to the opinions of experts in this field, such as Secretary-General of the Supreme Committee for Delivery and Legacy H E Hassan Al Thawadi, and President of the FIFA Gianni Infantino who highlighted the long-term growth brought about by sport in societies and economies”.
“With the successful conclusion of Qatar 2022, better conclusions are now available. The post-tournament stage will allow us to draw the world’s attention to development plans and economic diversification in a country”.
“Qatar Economic Forum serves as a media platform with a diverse agenda that brings together global business leaders to formulate actionable steps towards achieving economic growth. The Forum has been able to achieve this goal in each edition, and has become today an oasis for dialogue and exchange of views”, he added.
“Qatar Economic Forum is held in Doha, which is a contact point between East, West and Africa. This enhances the Forum’s strategic role in the global business community, because Doha has become today a thriving financial and commercial centre that leads dialogues and provides the possibility of exchanging views with the aim of promoting synergies between the main players on the global economic scene,” Sheikh Ali indicated.
The Chairperson of the Supreme Committee organizing Qatar Economic Forum pointed out that Qatar Economic Forum 2023 will focus on prominent global challenges that affect societies and economies around the world.
“However, the most important objective of all editions of the Forum has been strengthening interdependence as an international community.
Therefore, the 2023 edition will revolve around global growth and establishing a new roadmap for global growth in this challenging economic environment. Any event or disturbance that occurs in one part of the world has successive consequences at the global level. Similarly, holding a dialogue here in the heart of the Middle East enables us to connect thought leaders and decisionmakers from different societies to reach globally applicable solutions for a secure and sustainable future for all”, H E Sheikh Ali said.
He praised the partnership between Media City Qatar and Bloomberg Media Group which resulted in establishing Qatar Economic Forum, saying: “We have together launched this forum, and planned for its success in the midst of an unprecedented global turmoil. We are working on acquiring solutions that would address the challenges facing human development, inspired by the pillars of Qatar National Vision 2030”.
For more information about the speakers and Forum program, please visit QatarEconomicForum.com.
