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Growth strategy is to bridge gap between rich and poor

posted on 13/11/2012: 2389 views

Alleviating poverty and easing the gap between rich and poor must be at the heart of growth strategy, according to financial experts at the largest ever Summit on the Global Agenda.

Corporate social responsibility and building more cooperation and dialogue are among solutions that must be explored, they said at the inaugural session of the World Economic Forum's summit.

His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai; Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai; Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Deputy Ruler of Dubai; Dr Abdullatif Al Zayani, GCC Secretary-General; and a host of dignitaries attended the opening session of the summit.

The forum's founder and executive chairman Klaus Schwab, in his inaugural address, highlighted some key emerging challenges facing the world today. He said there are three important issues — political, economic and social.

Addressing the summit, UAE Minister of Economy Sultan bin Saeed Al Mansouri said: "Our world today is experiencing rapid changes. We must revisit the growth mechanisms that have not alleviated poverty.”

UAE Minister of State for Foreign Affairs Dr Anwar Mohammed Gargash indicated that the UAE adopts a policy that depends on boosting world cooperation and enhancing ties with countries and peoples of the world.

Dubai is proud of its culture of hosting people from all over the world, and believes in "cooperation, communication and dialogue”, Gargash said. "Dubai is a city that stimulates creativity,” he added.

UN special envoy for global education and former British prime minister Gordon Brown, addressing the plenary session titled: ‘Global governance outlook' said: "We are in transition period and global cooperation is most vital and important at this time for growth. Brown mentioned that there are so many issues and all are inter-related.

The World Trade Organisation Director-General Pascal Lamy said: "Political energy is lacking globally. We have system, machinery but we don't have much political energy. People are hungry and unemployed because of less political energy.

More than 1,000 participants from 80 countries will outline and discuss 88 financial, economic, political, social and other challenges facing the world during the three-day summit. Their findings will set the agenda discussed at the World Economic Forum Annual Meeting in Davos-Klosters in 2013. – Khaleej Times


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