Business Leaders Gather at DIFC Forum to Discuss Emerging Economies of the RegionPress Release20 Nov 2012 09:32 am
- Event brings together thought leaders from across the world to discuss the ever increasing levels of trade between emerging markets in MENASA region
The Dubai International Financial Centre (DIFC), the financial and business hub connecting the region’s emerging markets with the developed markets of Europe, Asia and the Americas, today hosts the first DIFC Forum, focusing on “The Shifting Centre of Gravity” in global trade and economics. Held under the patronage of His Highness Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Deputy Ruler of Dubai and President of the DIFC; the forum is also taking place in association with Deutsche Bank and Emirates as the official airline.
The primary focus of the forum is to explore the implications of a number of seismic shifts of power in world trade, economics and politics. International business leaders from East and South Asia, the Middle East, Africa and beyond will be in attendance today where they will examine the opportunities and challenges posed by such changes. In particular they will explore the increasing importance of trade between India and China and the Middle East; the effect that regulatory changes in mature markets will have on global financial services; China’s forthcoming leadership changes and the potential trade ramifications of the Arab Spring.
Referring to the forum, His Highness Sheikh Maktoum said, “Dubai provides the ideal setting to examine the challenges and opportunities that the global business community faces in these unprecedented times. The potential for growth in the Middle East, India and Asia, particularly China, has been well documented and as a finance hub for the MENASA region Dubai is well positioned to host discussions about these exciting opportunities for growth. The crucial thing is for businesses – and governments - to understand these changes so that they can adjust and plan accordingly.”
DIFC’s critical role
As the global finance hub of the region between London and Hong Kong, DIFC has been at the forefront of debate and analysis during recent years, playing a critical role in the economic development of the region. DIFC’s independent, world-class regulatory framework is one of the primary factors for the centre’s continued growth, despite the challenging global situation. This shifting centre of gravity has various implications for businesses in the region and around the world. Taking the example of China, the surge of a new wealthy middle class and the rise of the Renminbi as a global currency are two opportunities in terms of trade and investment flows in the region; today’s event promises to lead the discussion on the flourishing relationship between the Middle East and the emerging markets of Asia and Africa.