International Expert lectures on the Current Trends on Global Economic Environment at the Banking Institute

On Sunday May 4, 2008, the Emirates Institute For Banking and Financial Studies (EIBFS) has organized a seminar entitled the Current Trends on Global Economic Environment at the Banking Institute with the participation of 150 Participants from the banking and financial banking institution and individuals interested in world economy issues.

This seminar is a continuation of the Institutes’ celebration in the 25th anniversary of its foundation which will continue till the end of 2008. The seminar reviewed and demonstrated many key issues on the international economic environment at a time all banking and financial institutes are required to apply comprehensive programs in the framework of international competition in order to go on and compete.

The lecture was presented by Prof. Stephane Garelli, the professor of the International Institute of Administrative Development and Lozan University, and the Director of the International Competitiveness. He is also one of the prominent personalities who has the power to predict the consequences of international economic environment and their impact on commercial and financial institutions. Prof. Stephane also is the Chairperson of the General Administration of the World Economic Forum, Dafous for several years and wrote many books on competitiveness and international commerce.

The Seminar discussed the world economy issue and Forces affecting the environment and referred to the effects of globalization and how competitiveness among the world countries, especially those which are depending on the strategy of evaluating thoughts through constant change in order to maintain the level of competitiveness among the world’s market, and referred to that globalization is coming strongly and investments tend to exporting states with low prices which depend greatly on low salary workforce such as India and China.

This transformation from low salary workforce to low salary skills such as qualified, planners, analysts from countries such as China, India and other countries which have trained and experienced human resources, supporting his thoughts with many quotes from famous world administrators and leaders in this field.

Finally he mentioned to that the UAE will depend on local market after the consequences of the globalization such as inflation and rise in prices which entails the use of the local market and depending on local production and development of skills in order to achieve sustainability of the economy, and to create a space of competitiveness with major exporting countries which have large scale markets, companies and economies that afford control international markets.

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