My speech is not in English but I feel a little unfortunate because I am the third speaker today in this session following lunch, so bear with me, I will not take a long time.
In the Name of God, Most Gracious, Most Merciful
Excellencies… Ladies and Gentlemen… Distinguished Guests…
Peace be upon you and the mercy and blessings of God.
On behalf of myself and on behalf of his Excellency Sheikh Ahmed Al-Fahad Ahmed Al-Sabah, Deputy President of the Ministerial Council for Economic Affairs and Minister of State for Development and Minister of State for Islamic Affairs of the State of Kuwait, I present to you sincere greetings and thanks for the kind invitation which was extended to us by those responsible for your conference and for granting us an opportunity of encounter, dialogue and communication with you in all matters concerning us, with the aim of finding a shared global language to implement global geographical and economic balance on the basis of ambitious strategic concepts aimed at achieving long-term growth and development so as to improve the conditions of mankind in all parts of the earth.
Distinguished Guests… The states of the world have been living with the consequences of the global financial crisis since it began to appear in the United States of America in mid-2007. Although it was a crisis limited to the real estate sector, it rapidly turned into a credit crisis within the American banking system. As a result of the interconnection of global financial markets and the links between them, the crisis moved geographically from the area of the United States of America to become a world financial crisis throwing its shadow over the financial, banking and development markets in the developed countries in a major and direct manner. Signs of collapse began to appear on the financial market in the developing economies as it gradually became a global financial crisis which varied in severity from one area to another. Losses and bankruptcies increased, industrial production declined, influencing development plans in many of the developed nations as a result of the reduction in industrial investment financing in addition to the globalisation and interconnection of world production and consumer markets. The world has entered a phase of negative growth and economic stagnation, and the phase of diagnosis and seeking suitable energetic treatment has begun.
Distinguished Guests… The global institutions concerned with diagnosing the disease and prescribing the medicine have begun their work: the World Bank, the International Monetary Fund and all the relevant global institutions are taking measures, conferences and meetings have been convened between leaders and financiers and economic experts to look for appropriate organisational means of restoring equilibrium to the developed and developing markets. The State of Kuwait has striven to participate in this global effort by virtue of its geographical and geo-political role in the region by quickly offering the necessary support to communities which have been directly affected by this crisis, by convening economic meetings at the level of the states of the Gulf Co-operation Council and striving to implement the declaration of Kuwait made by the Arab Economic, Development and Social Summit to interact with the problems and issues faced by the Arab nation and the Arab citizen. The factors which influence our Arab world, in addition to the indirect influence of the global financial crisis, are evident from the way in which leaders and economic experts have taken steps to truly confront the challenges arising from the demographic situation exemplified by the high and constant increase in population numbers in the face of limited economic reserves in the majority of the states around us. As the natural and economic and financial reserves in the Arab world are growing at a slower rate than population growth, this makes conflicting standards of living inevitable in the Arab world, thus creating social and political problems which in turn lead to imbalances, not only as regards the standard of living and the economic position but also as regards national security in the region.
For this reason, we are meeting here today, not to discuss or examine commercial issues, but to talk about this challenge facing the standard of living and the Arab citizen and the Gulf region as a consequence. In spite of the emergence of a number of recommendations to liberate markets and services by means of profound reform to economic and financial policies, to strengthen production capacities by means of implementing favourable conditions, to distribute economic activity and establish specific elements of the economy, we are still always conscious of the direct repercussions of these challenges on social security.
Distinguished Guests… Social security means the protection of vital liberties, the protection of individuals and homelands, the protection of those who are subject to threat and inhuman situations by means of efforts made by the state to create systems which offer people the basic elements necessary to their livelihood, survival and dignity within the framework of a clear strategy characterised by an emphasis on protection and empowerment to confirm the benefit of human development transcending the concept of development on par with respect for human rights. This is the backbone of protecting human security. We emphasise the declaration of democratic principles which is the basic step towards realising social security and development by means of building strong institutions and consolidating the rule of law and establishing the language of dialogue with people. We emphasise through this meeting that we all put our faith in those efforts made by all the leaders in the region to create a climate suitable and appropriate to our peoples. However, it must be pointed out that the lack of economic security and the power to choose between the opportunities on offer at a local, regional and global level does not help to provide the minimum of social and economic standards necessary to consolidate sincere efforts to guarantee regular sources of income and to provide land, loans, education and homes which could be considered keys to a secure life which would increase the capacity and creative abilities of people in the region without fear of the future. This reveals the need for a global human identity with respect for the freedom of individuals to have different identities and affiliations which help them to stand up and participate in pursuing development and finding armour to protect them in future against economic convulsions and their consequences.
Distinguished Guests… I have the honour at this meeting of shedding light on the comprehensive Kuwaiti development plan, the main aims of which we, as leaders and people, have set within the global context in the fields of building up the homeland and the citizen. Our main aims are economic, political, social and developmental, and through them we aim to implement the policy and vision of His Highness, Emir of the state, Sheikh Sabah Al-Ahmed Al-Sabah (may God protect him) to transform Kuwait into a world financial and commercial centre influencing and being influenced by its neighbours and interacting with the developed states to guarantee peace and security to all. This is to be achieved by means of the following aims:-
- First, growth of the gross local product and improvement of the standard of living of the citizens
- Second, the private sector brings growth on the basis of driving mechanisms
- Third, support for human and social development
- Fourth, the promotion of population policies to support development
- Fifth, effective governmental administration
The executive organs responsible for the implementation of these aims have supported the transition from the programme of complete planning by order to the programme of planning by means of indicative policies which is dependent on market mechanisms and the strengthening of competition, specifically by making more resources available and implementing strategic goals for society. Thus, the role of the state is transformed from that of a producer of goods and services to that of a planner and supervisor of production and distribution activities in keeping with the general framework and policies and steps which drive development and creativity, taking into account private welfare and the welfare of society as a whole.
To conclude my remarks I would like to again express my thanks and gratitude to you all for listening to me so well and to emphasise the fact that the State of Kuwait stands together with you, as representatives of the countries of the region, our Arab neighbours and the developed nations, hand-in-hand, with one heart and one goal: the advancement of mankind everywhere.
Peace be upon you, and the mercy and blessings of God.
