Several heads of state, top level diplomats, thinkers and over 500 business leaders are expected to converge on Qatar from Monday for three days of intensive discussions on the unprecedented global economic situation prevailing today. Doha is hosting the second edition of Qatar Economic Forum (QEF) Powered by Bloomberg at a critical juncture where the world is passing through a challenging situation as repercussions from more than two years of the COVID-19 pandemic, the trickling effects from the Russia-Ukraine conflict, fears of recession and a frightening threat of world-wide food shortages loom large.
So, it is very crucial for the survival of the global population to chart out strategies and implement wise policies to ease the expected burden on the global population. Qatar’s Minister of Commerce and Industry H E Sheikh Mohammed bin Hamad bin Qassim Al Thani put it right recently saying: Making conscientious decisions about the future of the global economy is a priority for the governments and businesses, who are navigating a shifting financial landscape, new technologies and a progressive focus on energy security”.
The Forum reflects Qatar’s keenness to enhance international cooperation and partnerships to achieve a just economic recovery that includes all countries, especially developing and least developed countries. It is the responsibility of the economic well-off countries to ensure that developing and least developed countries also are able to overcome the fallout from the pandemic and the Ukrainian crisis, which is very fast gathering a global perspective, impacting new market conditions, commodities trade, supply chain etc.
The Forum assumes more significance as it is being hosted by Qatar, which is an influential economic player in the region and a bridge for communication and constructive dialogue between the region and other countries of the world with its decades of powerful diplomatic experience. The QEF also cements Qatar’s efforts to consolidate its position as a leading global centre for important international events paving the way for fruitful discussions on effective solutions and strategies to address comprehensive and sustainable development issues.
The Forum attracts special attention as the world is witnessing a paradigm shift with the changing global equations and wide use of Internet and other IT related technology which has been made imperative by the pandemic. As Qatar is fast becoming a technology and innovation hub, the country is better positioned to offer newer and finer solutions to many of the economic complexities. As a fall out from the Ukrainian crisis, the world, especially the West, is facing a punishing energy crisis. Qatar, as leader in the energy sector with its immense stockpile of green fuel can of course offer a ray of hope to the fuel hungry world.
