Cairo, Asharq Al-Awsat – Representatives of the World Economic Forum and the Egyptian Ministry of Trade and Industry met yesterday in Cairo to sign a Memorandum of Understanding that marks the official start of preparations for the World Economic Forum on the Middle East meeting on 17 to 19 May 2008 in Sharm El Sheikh.
The Memorandum of Understanding was signed between Rachid M. Rachid, Egypt’s Minister of Trade and Industry, and André Schneider, Managing Director and Chief Operating Officer of the World Economic Forum.
According to Minister Rachid M. Rachid, the World Economic Forum’s decision to return to Egypt “amounts to a vote of confidence by the global community in Egypt’s efforts to state the course of reform and market liberalization.” This is an important time to turn the spotlight on the challenges and opportunities that a modern Middle East faces and Egypt is well placed to host this world-class event. “At a regional level, Egypt continues to play its traditional role in brokering efforts to bring peace and stability to the region. At home, Egypt is actively engaged in reforms to open up its economy and society to the opportunities of globalization,” he added.