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Royal speeches

Royal message to participants in Annual Joint meetings of Arab Financial Institutions


HM King Mohammed VI sent a message to the participants in the Annual Joint meetings of Arab Financial Institutions which opened, on Tuesday in Marrakech, with the attendance of some 350 figures from the economic sphere.
 Here follows the full text of the message read out by Economy and Finance Minister Nizar Baraka:

 Praise be to God     May peace and blessings be upon the Prophet, His Kith and Kin

 Your Excellencies,

 Ladies and Gentlemen,

 It gives me great pleasure to send this message to the 2012 Annual Joint Meetings of Arab Financial Institutions. I am delighted to grant my patronage to your conference, given the role Arab financial institutions play in promoting economic and social development in the Arab world and in consolidating our joint action.

 I should like to welcome our distinguished guests, the heads and members of the delegations, to Marrakech, the Ochre city, and to this important conference, which the Kingdom of Morocco has the honour of hosting for the fourth time.

 Arab financial institutions are a key lever for the promotion of cooperation and complementarity between Arab sister nations. They also play a defining role in the achievement of economic integration in this age of regional and international blocs. By coming together, our countries should be able to rise to economic challenges, and to cope with the effects of the global financial and economic crisis.

Your Excellencies,

Ladies and Gentlemen,
 Your meeting is being held at an exceptional juncture, both in the region and the world. There have been several, far-reaching developments in our Arab region which reflect the aspirations as well as the expectations of Arab peoples. In addition to that, there is the unhelpful impact of the global crisis on our economic, social and financial conditions.

 This year’s conference is also taking place against the backdrop of a multi-polar global economic system, whose hallmarks are fierce competition and the ever-growing influence of emerging economies and the private sector.

 This new reality requires new economic and financial governance. It also makes it incumbent upon us to bolster our competitive edge so that our economies may hold their rightful place in the new global labour market and meet requirements for today’s new jobs. To achieve this, we must promote innovation, encourage scientific research and state-of-the-art technology, and improve the match between the training we provide and the needs of the job market.

 We should also adopt proactive approaches and next-generation economic reforms to come up with innovative, practical solutions. The latter should not only be adapted to our globalized world, but they should also withstand global changes and upheavals, and help us address the key issues of poverty, vulnerability, food security, water scarcity and climate change, as well as problems pertaining to the liberalisation of world trade and the disruption of global financial markets.

 For this reason, Arab financial institutions should put a new conception of development into effect. The aim is to bring on board all segments of society, especially impoverished, marginalized groups, and to ensure the optimal distribution of the benefits of growth by providing jobs - especially for young people - and meeting people’s needs in the areas of housing, healthcare and education, making it possible for each and every Arab citizen to enjoy a dignified life.

 I should like to take this opportunity to stress the pivotal role played by your institutions in giving concrete substance to brotherly bonds between Arab nations. By financing joint development projects - which have an impact on Arab citizens and enable them to live with dignity - your institutions are providing a tangible illustration of joint Arab action which they are bolstering with modern economic, development-oriented tools.

 Arab financial institutions are called upon to step up their action and to devote their energy and resources to supporting the efforts of Arab countries by financing economic and social programs and adopting new mechanisms commensurate with the challenges we are facing. Our goal is to achieve food security and energy efficiency, provide drinking water for our populations and safeguard our countries against the perils of climate change, building on a balanced, sustainable human development agenda.

 I should like to lay special emphasis in this respect on the need for Arab financial institutions to encourage Arab projects which promote regional integration and help us accomplish our cherished goal of Arab economic complementarity. Special attention should be given to joint Arab development projects in the areas of basic infrastructure, electricity, land, rail and sea links, digital networks, food security farming projects, water and natural resource management and the achievement of sustainable development.

 It is particularly important in this regard to improve the business environment and to encourage the private sector. The latter is a key player in spurring growth, promoting development and creating wealth, especially small and medium enterprises, given the crucial role they play in providing jobs.

 We highly appreciate the significant efforts made by Arab financial institutions to promote investment and cash flows between Arab countries, and we hope to see not only these efforts maintained and expanded, but also more joint Arab investments projects implemented.

 I should like, in this respect, to commend Morocco’s model partnership with Arab financial institutions and to say that we look forward to further cooperation in the future to expand and develop this partnership, given the favourable investment environment offered by my country, the reforms we have undertaken and the ambitious, strategic development plans we have embarked upon.

 We are very much aware that our countries cannot progress and advance unless our regional environment does as well. We therefore insist, in particular, on the need to support African countries in their development efforts. In fact, this should be one of the priorities of joint Arab action with a view to making it a model South-South cooperation partnership.

Your Excellencies,

Ladies and Gentlemen,

 Your meeting today, whose objective is to review the accomplishments of Arab financial institutions, provides a good opportunity to ponder on what has been achieved in terms of promoting Arab integration and to consider prospects for future action. Needless to say, the scale of the economic, social and development challenges facing our Arab region should be reckoned with.

 In this regard, I salute your commitment to strive doubly hard and raise more funds in order to tackle economic and social challenges and achieve strong, sustainable growth rates with the active involvement of all the stakeholders concerned.  All segments of society should benefit from growth so that economic and financial balances, stability and social cohesion may be preserved.

 I am sure that you will have a fruitful debate and that the outcome of this conference will enhance the role and effectiveness of your institutions so that you may help Arab nations rise to the challenge of development and promote Arab integration and complementarity, for the benefit of our peoples.

 Welcome to your second home. I pray that Almighty God grant you every success.

 Wassalamu alaikum warahmatullah wabarakatuh.