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Economic dimension of arab revolts

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Economic dimension of arab revolts


Change in Arab world, its direction, global economic crisis and search for a way out… These were the subjects discussed at 2nd Global Entrepreneurship Summit in Istanbul. The most important guest was American Vice President Joe Biden.

Representatives of 700 Arab firms, participants from Turkey, Asia, Africa and the US listened to Biden, whose most important international message was on the economic dimension of the change in Arab world.

Biden, referred the historic speech of Obama in Egypt in May 2009, and stressed the fact that desires of living with dignity, having good education and health care, opening business without giving bribe to officials, shook Middle East and North Africa. He said the political changes in Libya, Tunusia, Yemen and Syria must be reflected to the economic field because people is not only after political freedom but also economic one.

These words interrupted by applause but Tunisian entrepreneur Samir Ben Taieb, did not share Biden’s optimism about the impact of Arab Spring to economy. Taieb told Euronews that “It is hard for now to say that revolution contributes to our economy. On the contrary strikes, violence and protests blocks local and international investors to come and make business in Tunusia. Economy stopped now and I don’t think it will recover in a few years”.

However many entrepreneur is trying to benefit from this summit, increasing contacts and having new ideas.

Turkish Minister Babacan’s “It is no more time of big fish eats small fish. Today small companies can shake big, long standing firms. It is time of fast fish” words were applauded by the crowd.

The Middle Eastern, African and Asian entrepreneurs will meet next year in United Arab Emirates.

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