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In retaliation, Israel vowed to wipe out the Palestinian Islamist movement in power in Gaza since 2007, and launched an offensive that left more than 34,380 dead, according to the Hamas health ministry. “The world is walking a tightrope today, trying to find a balance between security and prosperity,” Faisal al-Ibrahim, the Saudi Minister of Planning, said at a press conference on Saturday.
“We meet at a time when an error of judgment, an error of calculation or a miscommunication would further exacerbate our challenges,” he added.
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“New dynamic”
The president of the WEF, Borge Brende, affirmed during this conference that there was “a kind of new dynamic in the discussions around the hostages, and (…) a possible way out of the impasse in which we find ourselves in Gaza.”
Israel is not represented at the summit, and negotiations on a truce through American, Qatari and Egyptian mediation are taking place elsewhere, but the event will be “an opportunity to have structured discussions” with “key players.” , he stressed.
“There will be discussions, of course, about the humanitarian situation in Gaza,” as well as Iran, which supports Hamas and Lebanese Hezbollah. The event “has every chance of becoming a very important meeting,” according to the WEF president.
The US State Department indicated that Antony Blinken will travel to Riyadh on Monday to “discuss ongoing efforts to achieve a ceasefire in Gaza that allows the release of the hostages”. It will also “emphasize the importance of preventing a regional extension” of the war, according to the same Source.
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Hamas said on Saturday it was “studying” an Israeli counter-proposal with a view to a truce associated with the release of hostages, the day after the arrival in Israel of a delegation of Egyptian mediators to try to relaunch negotiations in the ‘dead end.
Since the start of the war, Saudi Arabia has worked with other countries to try to end the conflict that threatens to engulf the region and derail its ambitious economic reform program, called Vision 2030.
Saudi projects
The Gulf monarchy, the world’s largest oil exporter and heavyweight in the Arab world, is also holding discussions on a possible normalization agreement with Israel, accompanied by a strengthening of its security partnership with Washington.
In September, the crown prince and de facto ruler of the kingdom, Mohammed bin Salman, was optimistic about the possibility of such an agreement during an interview with Fox News, but the war in Gaza has complicated the situation, say analysts.
At the same time, the conservative kingdom, which is home to two of Islam’s holiest sites, is seeking to attract investors and tourists to diversify an economy still very dependent on hydrocarbons. Hosting international events such as the WEF meeting allows it to highlight the progress made both economically and socially.
“Eight years after the launch of Vision 2030, we have demonstrated our desire to lead the way towards a model of transformative, innovative, inclusive and sustainable growth,” Faisal al-Ibrahim said on Saturday.
However, questions remain regarding the feasibility of this program and its mega projects such as the futuristic NEOM megacity. In December, the Minister of Finance acknowledged that the timetable for certain major projects would be pushed back beyond 2030, without specifying which ones.
