The need for deep economic reform in Lebanon was outgoing prime minister Najib Mikati’s theme in messages he delivered on the eve of the last election round. Speaking at the Arab Economic Forum (AEF) in Beirut last month, Mikati said that reforms and development would require a “collective national accord”, likening the need for consensus in economic renewal to that for the Taif Accord, which ended the years of internal military conflict. Mikati’s call was echoed by visiting Turkish prime minister Recep Tayyib Erdogan who urged for economic reforms in Arab countries and called for greater economic cooperation between Turkey and Arab world at the event, which in itself was overshadowed by the current climate of uncertainty.
The AEF gathered about 850 participants together, significantly below last year’s attendance, Walid Abou Zaki, executive director of organizers Al-Iktissad Wal-Aamal Group, told Executive. “Even though we tried double hard, it was very difficult and the participation didn’t reach last year’s level. However, the forum was very good and our financial results were excellent,” he said.
Following on the heels of the World Economic Forum’s (WEF) Middle East Meeting in Jordan last month, the AEF is not related to the WEF. Organized by the Beirut-based Al-Iktissad Wal-Aamal Group as for-profit commercial conference, the event was known in previous years as Arab Investment and Capital Markets Conference. When asked about any eventual links between the WEF and the similarly named AEF, WEF media spokesman Matthias Luefkens confirmed to Executive that the Beirut event was in no way connected to his organization, known for its Davos conferences, but was unconcerned about the naming similarity. “The copy honors the master,” he replied.
