TAILIEUCHUNG - ECONOMIC REFORM PRIORITIES IN THE ARAB WORLD: A PRIVATE SECTOR PERSPECTIVE

The interest rate on 10-year Treasury bonds in the third quarter of 2010 has averaged less than percent. 7 It is not plausible that interest rates could decline much further, even in response to the most extreme fiscal adjustment. The short-term rate in the United States is already at zero so it can literally fall no further, and the long-term rate will surely reach a plateau in excess of zero. After more than a decade of deflation, the interest rate on 10-year bonds in Japan is still percent, leaving a real yield that is approximately the same as in. | WORLD ECONOMIC FORUM COMMITTED TO IMPROVING THE STATE OF THE WORLD ARAB BUSINESS COUNCIL DAVOS SWITZERLAND 20 JANUARY ECONOMIC REFORM PRIORITIES IN THE ARAB WORLD A PRIVATE SECTOR PERSPECTIVE By the Arab Business Council of the World Economic Forum The Arab Business Council ABC of the World Economic Forum was established in June 2003. The Council s mission is to be committed to reinforcing and enhancing competitiveness in the Arab region by focusing on cooperating with the region s governments and organizations towards the development of economic policies reinforcing the voice of Arab business leaders in the international community specifically on issues affecting the region s socio-economic and development agenda and serving as the advisory body to the World Economic Forum on its Arab world strategy. The Arab Business Council realizes that the Arab world today stands at a very critical juncture. Sustaining the status quo will only widen the development gap between this region and the developed world - not to mention the growing number of developing countries and regional blocs that are taking rapid measure to integrate into the global economy. This has been identified and reaffirmed by a number of studies the most recent of which include the UNDP Arab Human Development Report and The Arab World Competitiveness Report. The Arab Business Council aims to galvanize the Arab private sector to play a key role in partnership with governments to enhance the Arab world s competitiveness and the region s potential. The Council initiated constructive dialogue with several Arab governments to support its business-government partnership initiative. Several meetings were held with key Arab leaders who encouraged the goals and objectives of the Council. Government ministers were appointed in Jordan Egypt and the United Arab Emirates to act as the focal point between the government and the ABC. In supporting its business-government initiative the Arab Business Council identified

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