São Paulo – Europa needs to help the Arab world face the challenges that arose with the political crisis that emerged in Middle Eastern and North African countries, after various popular uprisings took place in the region. The appeal was made on this Wednesday (8th) during a plenary session on the first day of the World Economic Forum on Europe and Central Asia, which will continue until tomorrow in Vienna, Austria. The information was supplied by the communication advisory to the event.
“Assistance is crucial,” stated Valdis Zatlers, the president of Latvia. “The will of the people for change has been expressed in a very visible way,” he claimed. To the president of the Central Bank of Tunisia, Mustapha Kamel Nabli, “help is required now, or the whole process is put at risk.”
Nabli pointed out two paradoxes affecting his country after the uprising. The first one is that the gap between social aspirations and economic reality, a factor that triggered the crisis, has widened instead of becoming shorter. The second paradox is that uncertainty has grown regarding what will happen in the short term, and that in turn has affected tourism and investment in Tunisia, although the long-term stability has been reinforced. According to the executive, in spite of this scenario, his country has not been receiving much foreign support. “The International Monetary Fund and the World Bank are not enough. Tunisia needs broad-based support,” he said.
Over the last few years, the IMF, the World Bank and the G8, a group of the seven most developed countries in the world and Russia, announced billion-dollar aid packages to the Arab nations, especially Tunisia and Egypt.
Khalid Abdulla-Janahi, the honorary chairman of investment fund Vision 3, based in the United Arab Emirates, highlighted the need for the remaining Arab countries to help the crisis-ridden nations. “The Arab world has over US$ 1 trillion in assets in United States securities. Why not invest some of this locally,” he asked. “Despite differences, we all agree that people of the Arab world want and deserve three things: no oppression, no suppression and no repression,” he stated.
Ahmet M. Oren, the CEO of Turkish communications holding company Ihlas, also spoke for aid to his neighbouring countries. “We need to help young people who made this happen become part of the new system.”
Tarik M. Yousef, the dean of the Dubai School of Government, also touched on the role of Europe in addressing the Arab crisis, and mentioned Libya as an example. “Libya needs to build institutions from scratch and will be looking to Europe for help.”
*Translated by Gabriel Pomerancblum
