DAVOS (Switzerland), Jan 16 — The World Economic Forum’s (WEF) 53rd Annual Meeting convenes today with 2,700 leaders from 130 countries, including 52 heads of state at the ski resort town here.
This year’s WEF theme is “Cooperation in a Fragmented World: Addressing Pressing Crises, Tackling Future Challenges” amid multiple crises that deepen divisions and fragment the geopolitical landscape.
The WEF, which began in 1971, has been described as the global summit in the Swiss Alps.
In a statement ahead of the four-day forum starting Jan 16, 2023, WEF has called on world leaders to address immediate economic, energy, and food crises, while laying the groundwork for a more sustainable, resilient world.
Malaysia’s delegation is led by Minister of International Trade and Industry Tengku Datuk Seri Zafrul Aziz.
Among the scheduled sessions that the minister will participate in is on the cost of economic fragmentation, supply chain, and transport as well as a session entitled: “Living with Risk” where he will be one of the three panelists.
Tengku Zafrul will also be in a two-man panel session on Global Trade: Navigating The Post-Pandemic Supply Chain Challenge, together with Sultan Ahmed Bin Sulayem, the group chairman and chief executive officer of Dubai-based DP World.
The session will focus on whether macroeconomic forces - such as inflation, geopolitical tensions, spikes in commodity prices, supply chain disruptions, and capacity constraints - will continue in 2023 and how companies can create more resilient supply chains.
“We see the manifold political, economic, and social forces creating increased fragmentation on a global and national level.
“To address the root causes of this erosion of trust, we need to reinforce cooperation between the government and business sectors, creating the conditions for a strong and durable recovery.
“At the same time there must be the recognition that economic development needs to be made more resilient, more sustainable and nobody should be left behind,” said WEF founder and executive chairman Klaus Schwab.
The programme of the 53rd Annual Meeting focuses on solutions and public-private cooperation to tackle the world’s most pressing challenges.
It encourages world leaders to work together on the interconnected issues of energy, climate and nature; investment, trade and infrastructure; frontier technologies and industry resilience; jobs, skills, social mobility and health; and geopolitical cooperation in a multipolar world.
Miti and the Malaysian delegation's priorities are to highlight and explain the government's direction with specific industries, as well as to foster closer ties with the international investment community.
The delegation will also present the latest developments in Malaysia and information on the government's direction and thoughts on sustainable issues such as environmental, social and (corporate) governance (ESG), which are becoming important.
Tengku Zafrul has described WEF as one of the best platforms because it is organised at the beginning of the year.
“We can discuss what the country’s economic agenda is and my counterparts and I from other countries have the opportunity to exchange views on the challenges that will be faced in 2023 and preparations to face them,” the minister said.
It also provides a great opportunity to meet with corporate leaders because the private sector is also there, especially multinational companies to invest in Malaysia or increase existing investments, he noted.
— Bernama
