Trade Talk at the World Economic ForumOctober 24, 2011
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Greg Bell is a writer in the International Trade Administration’s Office of Public Affairs.
“How can Arab economies better leverage regional and global trade to restart growth and drive economic development?”
To answer the question, the World Economic Forum convened a panel in Jordan — see video here — that included Under Secretary Francisco J. Sánchez and a host of economic leaders.
Moderated by Louisa Bojesen from CNBC Europe, the discussion focused on a number of topics ranging from the growth of global markets to the importance of trade agreements in generating economic activity in the Middle East and North Africa (MENA) region.
Under Secretary Sánchez stressed that:
- With a growing population of over 370 million people, and an expanding regional GDP of over $2.5 trillion, MENA represents an enormous opportunity for mutually beneficial growth in trade and investment;
- The United States is committed to helping spur entrepreneurship, investment and trade with (and within) the region to help meet the aspirations of all citizens;
- A key to the future of MENA is an improved business climate, which includes regulatory cooperation and transparency; and
- The MENA region is full of enormous potential which can be unlocked in part by providing greater opportunities to young people.
It was a fascinating conversation full of different ideas and perspectives. I urge you all to check out the video.