|
A development bank should be established to meet the infrastructural needs and programmes launched for tapping the potential of the youth in the Middle East and North African region, suggested former prime minister of the UK, Gordon Brown. |
He was addressing the opening session of the 13th annual Doha Forum and Enriching the Middle East’s Economic Future Conference titled ‘Visions for Regional Peace, Stability and Development’ yesterday.
The former British premier lauded the efforts of HH the Emir Sheikh Hamad bin Khalifa al-Thani in bringing about peace in the region and in the world.
Brown reviewed the financial and economic challenges taking place in the world and predicted that over the next two decades a major economic boom was expected.
However, he observed that already today the majority of the production was happening in the East, while the majority of the consumption was in the West. This trend, he believed, pointed to the need for further strengthening of international collaboration between the countries.
“If the centre of production is in one part of the world and consumption in another, there is a need for greater global co-operation,” he said.
Brown predicted that the number of individuals in the middle class is expected to grow exponentially, offering a great opportunity to tap their potential, given that most of them would be the youth.
“The number of graduates is expected to double in the next few years particularly in this region and China and India,” he said.
However, the danger in this growth is that there could be widespread unemployment unless some initiative is taken to not let the youth potential go to waste.
It was in this context that Brown called for the creation of a Middle East North Africa Development Bank to fight youth unemployment and poverty.
“My plea for the Doha Forum is that you create a development plan to meet the infrastructure needs of the region,” he said.
Brown also quoted former US president John F Kennedy to stress on the vision that leaders of today must take. “JFK said that those who build the present in the image of the past will miss the opportunities of the future,” he reminded the audience.
Brown is the UN’s Special Envoy for Global Education and Member of Parliament for Kirkcaldy and Cowdenbeath. He served as the UK PM and Leader of Labour Party from 2007 and 2010 and is widely credited with preventing a second Great Depression through his stewardship of the 2009 London G20 summit.
