HE the Minister of Commerce and Industry Ali bin Ahmed al-Kuwari attended the inauguration of the 50th edition of the World Economic Forum (WEF), which is now being held in Davos, Switzerland.

The minister participated in a number of panel discussions organised within the framework of the WEF and held meetings with ministers and senior government officials from participating countries as well as high-ranking members of international organisations and private institutions.

He also attended the special address by Iraqi president Dr Barham Salih.

This year’s edition brings together more than 250 political leaders from G20 group among other countries, along with the heads of a number of international organisations, business leaders, politicians, ministers, academics, technology pioneers, representatives of civil society organisations and cultural leaders.

This 50th edition of the WEF is being held under the theme “Stakeholders for a Cohesive and Sustainable World” and focuses on global, regional and national initiatives that have a positive impact on all stakeholders.

The forum will tackle four global issues including efforts to address climate and environmental challenges that damage the environment and the economy; measures to transform industries and promote sustainable and comprehensive business models especially within the framework of the role that political, economic and social priorities play in altering trade and consumption patterns; in addition to taking advantage of technologies fueling the fourth industrial revolution to benefit society and the business environment; and efforts being undertaken to cope with demographic, social and technological trends and to promote education, employment and entrepreneurship.

The World Economic Forum, founded in 1971 in Geneva, Switzerland, is an independent international non-profit organization with a mission to promote global development.

Each year, the WEF brings together a large number of heads of state and government, senior officials and influential businessmen in the global economy. The annual meeting aims to provide a platform for dialogue and the exchange of ideas among participants, presenting opportunity to strengthen bilateral relations between various countries and international companies.