Globalization has become synonymous with unchecked corporate and political power that hurts average citizens around the world. But in a speech this past week to the World Summit of Young Entrepreneurs, Abdel Hamid Mamdouh, director of Trade at the Services Division of the World Trade Organization (WTO), offers a very different view when globalization is viewed in terms of the emerging entrepreneurial economy.
From the Brazil-Arab News Agency:
According to Mamdouh, the WTO sent him to the meeting as their representative due to the theme, which is the liberalization of trade and is of great interest to the organization. To him the objective “is to liberalise trade as it is newly defined, to encompass movement of capital and movement of people, to liberalise it through agreements between governments, in order to open up new investment opportunities for entrepreneurs, to open their horizons.”
Mamdouh called globalization one of the great facilitators of entrepreneurial activity in today’s economy.
Mamdouh stated that the current generation of entrepreneurs is the best that the world has ever seen. “IT and technology have greatly helped entrepreneurs supplying them with tools that did not exist in the past, providing them with information about markets that were not available for previous entrepreneurs. Their work is simplified by market globalisation and by the reduction of barriers between countries,” stated the Egyptian.