*{King Abdullah: "Economics and Palestinian peace track are key to stability in the region" [http://www.weforum.org/site/knowledgenavigator.nsf/Content/King%20Abdullah%3A%20%22Economics%20and%20Palestinian%20peace%20track%20are%20key%20to%20stability%20in%20the%20region%22?open&topic_id=300250000&theme_id=300]

            30.01.2000

            Annual Meeting 2000}

            The United States intends to give priority to supporting emerging democracies worldwide in the coming years, said US Secretary of State Madeleine Albright and US Secretary of the Treasury Lawrence Summers. These commitments include institution building in the former Soviet bloc, debt relief for developing countries and incentives for the discovery and production of vaccines against HIV/AIDS and other deadly diseases.
            His Majesty King Abdullah II Ibn Hussein of the Hashemite Kingdom of Jordan told business and government leaders he is optimistic the Syrian/Israeli peace process will be completed by the middle of this year but added that resolving the Palestinian track is key to regional stability. King Abdullah also said it is economics, rather than politics that will provide the solution to development and stability in the Middle East. He called on the private sector to take an active role in bringing people together in the region.

            King Abdullah's address to the Annual Meeting focused on bridging the gap between haves and have-nots which he believes has been accentuated by the information technology revolution. He said that the global reality of the day is characterized by rapid interdependence that brings both "promise and peril". "It is a setting for a widening digital gap between developed countries, which are adapting to the new modes of technological advances, and the developing world that is at risk of being left behind," he said.

            Reminding the gathering that many countries around the world are still struggling with getting hard-wired phones into houses, King Abdullah said the promise of the Internet for the world's poorest is "at best, hard to achieve, and at worst a bitter illusion that widens the gap between the rich and the poor." He also predicted that the digital divide around the globe will get a lot worse before it gets any better.

            King Abdullah pointed out that the recent demonstrations around the WTO meeting in Seattle showed the risk of a public backlash if people are excluded from the benefits of technology and globalization. Although the digital gap provides an opportunity for the poorest nations to be rapidly inserted into the world economy, it is just as likely that the new economy will speed the concentration of wealth into the richest nations, he said. Calling on business, government and international organizations to lend support to developing countries, King Abdullah said the developing world needs frameworks to facilitate access to the "knowledge economy".

            Jordan has made important strides in institutionalizing accelerated reforms, economic liberalization and privatization, the King said. He also said his country has a commitment to satisfy the requirements of the private sector to ensure that it is the real engine of economic growth. He said success in these policies has been demonstrated by the investments made in Jordan by corporations such as France Telecom, Motorola, Mitsubishi and others. Above all, he has concentrated his efforts on breaking down the barriers between the private and corporate sectors and ensuring that the two work together to chart the future of Jordan.

            At the same time, he stressed that regional considerations were key to economic developments. "For too long, political conflict, economic fragmentation and a failure to compete in the global economy have dominated this region. Now is the time to change that." He said that economic development should not be held hostage to politics. King Abdullah called on government and business to support the leaders and people of the Middle East who are grappling with fear and uncertainty as the peace process continues. "It is the task of the new generation of leaders in the Middle East to transform peace settlements into a permanent reality of economic hope and opportunity for the peoples of the region," he said.                 

                  *{Contributors:       Abdullah II Ibn Hussein of the Hashemite       Schwab Klaus}