Khalidh Rizwan
The World Economic Forum (WEF) convened a significant meeting in Riyadh, Saudi Arabia, on April 28-29, under the patronage of Saudi Crown Prince and Prime Minister, Prince Muhammad bin Salman. The gathering successfully concluded by delineating clear pathways to opportunities, encompassing stability, prosperity, and growth, amidst escalating cross-border challenges.
The forum, held under the theme “Global Cooperation, Energy for Growth and Development,” attracted over 1,000 prominent political, economic, and technological figures. This flagship event marked the largest attendance at a WEF event hosted outside Davos, Switzerland.
Representing Sri Lanka, the Minister of Foreign Affairs, Ali Sabri PC, engaged in a special meeting, during which he convened discussions with various political dignitaries, including Saudi Arabian Foreign Minister Faisal bin Farhan.
During the event, Foreign Minister Ali Sabri and Saudi Arabia’s Investment Minister Khalid Al Falih signed a memorandum of understanding regarding investment promotion between their respective countries. This agreement addresses a longstanding need and is poised to significantly enhance investment opportunities in both nations.
During their meeting, Foreign Minister Ali Sabri and Saudi Minister of Economy and Planning Faisal bin Fadhil Alibrahim engaged in discussions concerning bilateral relations, collaboration across diverse sectors, and recent developments on regional and global fronts.
Also, Foreign Affairs Minister Ali Sabri announced Sri Lanka’s participation in the dialogue between the Global South and North at a World Economic Forum meeting held in Saudi Arabia.
Minister Ali Sabri, highlighted the nation’s efforts to facilitate dialogue between the Global South and North during a World Economic Forum meeting in Saudi Arabia. The event focused on the Global South, including countries from Africa, Asia, and Latin America, and Sabry represented their perspective alongside Saudi Arabia’s Prince Faisal bin Farhan in a session titled “North to South, East to West: Rebuilding Trust.” This reflects Sri Lanka’s commitment to fostering collaboration and understanding between different regions
Overall, This meeting has significantly laid the groundwork for the launch of numerous initiatives in the realms of healthcare, artificial intelligence, and space exploration.
Saudi Arabia has forged three significant agreements with the Bill and Melinda Gates Foundation, in conjunction with the King Salman Humanitarian Aid and Relief Center (KSrelief) and the Saudi Ministry of Health. These collaborations aim to enhance sanitation infrastructure and combat polio across multiple nations.
Saudi Minister of Economy and Planning, Faisal Ali Ibrahim, emphasized the pivotal juncture facing the world, characterized by a confluence of opportunities and responsibilities. He underscored the imperative for all nations to flourish within the global economy, irrespective of their wealth or stature. Additionally, three initiatives aimed at tackling climate change and facilitating the energy transition were unveiled.
A groundbreaking initiative program has been introduced to facilitate collaboration among prominent Saudi companies in pivotal sectors. Its objective is to cultivate robust and sustainable economic development strategies.
During a session focusing on innovations pertaining to carbon storage and applications, Energy Minister Prince Abdulaziz bin Salman underscored the imperative of exploring solutions for an equitable energy transition. He emphasized the criticality of advancing systems and programs within the energy sector to ensure future readiness and address forthcoming demands.
Several discussions and sessions concerning the advancement of global cooperation were convened during the event. Under the leadership of Saudi Minister of Foreign Affairs, Prince Faisal bin Farhan Al-Saud, these meetings were centered on fostering collaboration to address critical geopolitical issues, notably the escalating conflicts in the Middle East, Africa, and Eastern Europe. Echoing similar sentiments, Minister of State for Foreign Affairs, Adel Al Jubair, underscored the imperative of charting a definitive course toward achieving enduring regional stability.
World Economic Forum President Borg Brende remarked that the meeting was significant, drawing the participation of prominent global figures, including Palestinian President Mahmoud Abbas, US Secretary of State Anthony Blinken, and UK Foreign Secretary David Cameron.
It is worth mentioning that several new projects were unveiled during the event. For instance, Moderna CEO Stephen Bancel disclosed the company’s intentions to introduce its inaugural clinical product for cancer by 2025.
