WGS 2023: Dubai Ruler, WEF Founder Discuss Importance Of Cooperation Between Global Governments

UAE Vice President Sheikh Mohammed bin Rashid Al Maktoum and World Economic Forum (WEF) founder and executive chairman Klaus Schwab met on the sidelines of the World Government Summit (WGS) to discuss the importance of enhancing cooperation among global governments to address economic challenges.

The meeting centered around fostering constructive dialogue across all nations, and the roles of WEF and WGS in achieving sustainable economic development, WAM reported.

It was attended by Dubai Civil Aviation Authority and Emirates Airline and Group Chairman and Chief Executive H.H. Sheikh Ahmed bin Saeed Al Maktoum, UAE's Minister of Cabinet Affairs and WGS Organization Chairman Mohammad bin Abdullah Al Gergawi, WGS Managing Director and UAE's Minister of State for Artificial Intelligence, Digital Economy and Remote Work Applications Omar bin Sultan Al Olama.

During the meeting, Sheikh Mohammed bin Rashid commended Schwab for founding an organization that equipped governments across the world with valuable insight about the world economy.

For his part, Schwab praised the WGS for its commitment to fostering deeper relations among nations and creating a venue for world leaders to discuss issues that are crucial to their leadership.

Schwab echoed the same message during his speech on Monday, where he emphasized the importance of re-globalizing to revamp the world for the better, with economic transformation as the starting point. In his speech, he said what the world needs right now was not to become "de-globalized" but "re-globalized."

"We have to strengthen cooperation because we are faced with issues that are of existential importance for humankind," he said.

He added it was about time the global leaders stopped thinking that the world was being caught in multiple crises; instead, he said, they should see the world as going through a "deep systematic transformation."

"There's a difference between a crisis and a transformation. If you're in a crisis you want to go back to the original point as soon as possible, to correct it. But in a transformational process you want to manage change and to come out in the end of the transformation in a better position in comparison to where you started off," he explained.

The WGS 2023 kicked off Monday, and will run until Wednesday. The summit features several forums tackling subjects impacting governments across the globe.