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Mon 29 Oct 2007 04:15 PM

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Zain CEO calls for ‘business UN’

Al Barrak suggests global body to manage world economy free of political agendas

Zain CEO Dr Saad Al Barrak has called for a change in how international business interests are promoted and suggesting that an UN-style body to promote the interests of the private sector would best serve the global economy.

The Kuwait-based CEO, whose company has interests in over 21 countries across the Middle East and Africa, also suggested that developing economies were suffering from the political agendas of industrialised nations.

"The world economy is now bearing the brunt of the negative influences of political agendas that usually seek to control and influence the decisions of international bodies and organisations, especially in the light of the fact that the governments of major industrialised countries usually seek to impose their own agendas that do not take the interests of the developing countries into consideration," Al Barrak explained.

Speaking at an event in New Delhi, attended by 300 dignitaries including Indian Prime Minister Dr Manmohan Singh, he suggested that the body be called United World Business (UWB).

"We believe the private sector should play an active and main role in managing the world economic affairs away from political interests and conflicts that usually overwhelm most governmental bodies and organisations around the world," he said.

Al Barrak went on to note that all the actions and activities of the proposed UWB will have to be completely independent from governmental agendas and should not serve governments' regional and international political interests.

"It has become crystal-clear to every body that the 'ship' of the international economy has become in dire need of having its current captain changed if we really want it to continue its journey towards the shores of stability and safety," he said.

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