Food, Fuel Uncertainties Top World Economic Forum Agenda In Malaysia

Food, Fuel Uncertainties Top World Economic Forum Agenda In Malaysia

12 June, 2008

KUALA LUMPUR: The World Economic Forum said Thursday (12 June) it will gather mainly Asian government and corporate leaders in Malaysia to search for ways to tackle uncertainties like soaring food and fuel prices.

A two-day conference on East Asia starting Sunday (15 June) will involve participants including Malaysian Prime Minister Abdullah Ahmad Badawi, Thailand's Deputy Prime Minister Mingkwan Saengsuwan and Japanese Financial Services Minister Yoshimi Watanabe.

The trade ministers of South Korea and Indonesia and the Philippine secretary of agriculture are scheduled to address a session on how Asian economies can grapple with inflation and maintain growth amid widespread dependency on food subsidies and energy imports.

"The idea is to get a little bit ahead of the curve to get a bird's-eye view on issues like food and fuel," said Lee Howell, Asia head of the Geneva-based World Economic Forum.

"It's important for leaders to have a strategic perspective on these drivers of change," Howell told reporters in Kuala Lumpur.

A taped message by Japan's Prime Minister Yasuo Fukuda will be shown to the conference, while Pakistan's former Prime Minister Shaukat Aziz will lead a discussion on how Asian financial institutions will be affected by U.S. and European policy decisions in the wake of the global credit crisis.

Vietnam's deputy prime minister, the World Bank's vice president for East Asia and the chairman of Malaysian Airline System will debate how Asia's export-driven economies should handle the U.S. dollar's persistent weakening.

The head of the Asian Development Bank and the chairman of British insurer Lloyd's will speak on international risks that governments and businesses in Asia must work together to face, such as terrorism, climate change and income imbalances.

Other business executives at the conference will include the chairman of UK-based Barclays bank, the president of Japan's Takeda Pharmaceutical Company, the president of South Korea's SK Telecom and the chief executive of budget carrier AirAsia. (By SEAN YOONG/ AP)