DEAD SEA, JORDAN - Over 1,400 leaders from 85 countries representing business, government and civil society are at the World Economic Forum on the Middle East to discuss the region’s response to the worst economic crisis in at least half a century.

“We need to look back to the 1930s to see the same level of crisis as we have today. It’s hitting every country and economy and that’s where we see the possibility to cooperate on what type of system we need to install, what type of tools we need to employ,’ CEO, Amec, United Kingdom, and Co-Chair of the World Economic Forum on the Middle East Samir Brikho said.

“This is a good opportunity, and the World Economic Forum is providing a springboard for discussion,” he added.

Concentrating on the economic situation “is a must”, said Esam Janahi, chairman, Gulf Finance House, Bahrain, and co-chair of the World Economic Forum on the Middle East.

“We hope that government and business can come up with the right action plans… as well as concentrate on business opportunities that are coming out of the region,” he said on the opening day of the meeting.

Chey Jae-Won, vice-chairman and CEO, SK Holdings, Republic of Korea, and co-chair of the World Economic Forum on the Middle East, echoed the call for a “spirit of cooperation” at the Dead Sea.

“It doesn’t matter which route you go, as long as you work together,” concluded Kevin Kelly, CEO, Heidrick & Struggles, USA, and co-chair of the World Economic Forum on the Middle East.

The three-day meeting is held under the theme “Implications of the Global Economic Crisis for the Middle East: Home-grown Strategies for Success”. Beyond addressing the economic turmoil, program highlights include:

For the first time, the meeting is bringing together leading scientists from the region and the Diaspora to engage decision-makers in a dialogue on a forward-looking agenda for science and research in the Middle East.

The world’s leading energy strategists and their counterparts in government and academia have gathered at the Dead Sea to address the future of the industry in light of energy price volatility. They will focus on energy security, the business case for scaling up alternative energies and energy-water linkages.

Top financial services executives, regulators and economists are holding their premier regional gathering at the Dead Sea. The summit will focus on sharing knowledge and innovation across themes ranging from financial market architecture and climate change to emerging market infrastructure.