Work together to avoid major crisis, say leaders.
Governments, businesses and civil society must work together on global issues such as the slowdown in the economy if the world is to avoid another major crisis urgent, government leaders warned
Governments, businesses and civil society must work together to address urgent global issues such as the slowdown in the economy if the world is to avoid another major crisis, government leaders warned in the opening session of the two-day World Economic Forum's Summit on the Global Agenda 2011 which opened at the Yas Marina Circuit in Abu Dhabi on Monday.
The world's biggest brainstorming session has brought together more than 800 of the best and brightest minds from across the globe with the sole aim of identifying new models for addressing the most pressing global challenges.
His Highness Shaikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai; Shaikh Mansour bin Zayed Al Nahyan, UAE Deputy Prime Minister and Minister of Presidential Affairs; Shaikh Nahyan bin Mubarak Al Nahyan,UAE Minister of Higher Education and Scientific Research; attended the opening session. Also present were other UAE ministers and members of the Abu Dhabi Executive Council, as well as a number of local and international dignitaries.
"What is becoming increasingly clear is that the nature of the challenges the world faces today requires the development of new models, or the adaptation of traditional ones, if they are to be addressed effectively. Collectively, we all have a role in progressing comprehensive responses to increasingly complex global dynamics," said UAE's Foreign Minister Shaikh Abdullah bin Zayed Al Nahyan.
"The nature of the issues we face today is such that no nation can address them alone," Sultan bin Saeed Al Mansouri, UAE Minister of Economy and Co-Chair of the Summit on the Global Agenda 2011 told the august gathering. "In today's interconnected world, events in one country can have significant impact on others."
Problems such as maritime piracy and food security require collaborative approaches to solve them, Shaikh Abdullah agreed. "These challenges require the development of new models."
"While each nation must determine its own way of doing things at home, when it comes to emerging national challenges, we need to think long term. On issues like climate change and geopolitical security, we have to consider not just our immediate situation but those of the next generation and the one after that," said Mohammed Omar Abdullah, Undersecretary of the Department of Economic Development, Abu Dhabi.
Klaus Schwab, Founder and Executive Chairman of the World Economic Forum, told participants that the world needs "new models to guide global, regional, national and business decision-making. Our responsibility is not to look at the world in a short-sighted way but to break out and look for a systemic and more collaborative way".
Former British prime minister Gordon Brown told the influential leaders gathered at the Summit: "Global cooperation is even more necessary today because we are facing a new but avoidable global downturn. At the moment, there is a precarious balance between those who produce but don't consume and those who consume but don't produce."
The international community needs to negotiate a "global growth pact" and guard against rising protectionism, Brown argued.
Today is the final day of the Summit where 79 of the most pressing global challenges will be debated and recommendations submitted.
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