Dubai - The 2016 Arab Strategy Forum puts the focus on the political and economic state of world.
Published: Wed 14 Dec 2016, 10:01 AM
Last updated: Wed 14 Dec 2016, 3:42 PM
"2017 needs to be the year of implementation. That will transform Arab countries and will source new economic growth and new jobs," says Natalia Timirisa of the International Monetary Fund, UAE.
Speaking at the opening of the 2016 Arab Strategy Forum, Timirisa said the global outlook for 2017 and beyond presents "many challenges for Arab countries" but it also poses many opportunities to change the paradigm of economic growth.
Dr Natalia Tamirisa from the IMF opens the first session with a Regional Economic Outlook for 2017 Image credit: Arab Strategy Forum/ Twitter
"Weening economies off the reliance of oil is a must. A number of countries, including the UAE, have announced impressive goals in the healthcare, education, and tourism sectors and these structural reforms need to remain."
And the cost of inaction for Arab countries will be high, she said, if they don't.
"Without further reforms as many as one million young people expected to join labour force over next six years will likely become unemployed."
Speaking to Khaleej Times on the sidelines of her speech, Tamirisa identified a number of specific performance criteria and milestones needed for the UAE to achieve its 2021 goals, and it was the youth and education that came under the spotlight.
"A very important part is making sure that the skills of young Emirati citizens fit the needs of the private sector (and) the needs of the global economy. Efforts to strengthen curriculum and to have a holistic approach to education are very important in this regard."
The 2016 Arab Strategy Forum puts the focus on the political and economic state of world.
Speaking during the opening ceremony, Mohammed bin Abdullah Al Gergawi, Minister of Cabinet Affairs and Future said one of the biggest questions that will be tackled at the Forum is whether the US is going to play the same role in the future after Donald Trump becomes president, and how it will affect the Arab world.
And this question will be tackled by Sterling Jensen of the National Defence College in his 'The State of Middle East in Trump's Era' discussion.
Gergawi also announced the launch of the 'Good Judgement Open' initiative that is open to all participants to give their expectations and outlooks about what will effect the Arab world in 2017.
He said the incubator-approach to knowledge sharing will look to build a new generation of politicians and economists in the UAE. Kelly@khaleejtimes.com
What is 'Good Judgement Open'?
What will the state of the world be in 2017? The Arab Strategy Forum is collaborating with Good Judgment, Inc. to launch a forecasting challenge about the future of the global economy, key global geo-political tensions, the threat of international terrorism, the political ruptures in the Middle East, the world's response to the refugee crisis, and much more. Please join the challenge and make your forecasts on the pressing political and economic issues that will shape the world in 2017. Go to: Arab Strategy Forum - State of the World 2017 Joined
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