WEF 2015: Swiss President Simonetta Sommaruga warns against ignoring uncertainties felt by people

DAVOS: Globalisation has led to greater prosperity but it would be a "dangerous mistake" to ignore the uncertainty felt by many people, Swiss President Simonetta Sommaruga has said.

Uncertainty is prevalent in current conflicts and crisis regions as well as in the comparatively prosperous countries of Europe, she said.

"Overall, globalisation has led to greater prosperity and reduced poverty, but that is not the case everywhere," she said late last night.

Sommaruga was speaking at the 45th World Economic Forum Annual Meeting here.

She told participants that globalisation induces a deep-seated sense of uncertainty in many people. "It would be a dangerous mistake to ignore the uncertainty felt by many people," she added.

She pointed to the rise of nationalist and populist parties in many countries in Europe that are critical of globalization, reject immigration and incite scepticism towards the European Union.

Sommaruga noted that business leaders have avoided assuming the responsibility for answering questions on the inequitable distribution of the benefits of globalization for far too long.

"We need business people who want to give others a chance; employers who set benchmarks in terms of profit and of corporate culture. We also need commodities groups that prohibit all forms of forced labour and exploitation, and that recognize the rights of others," she added.

Meanwhile, speaking in the context of Turkey's presidency of the G20, Prime Minister Ahmet Davutoglu told participants at the WEF Annual Meeting that his country's priorities are an inclusive approach to global growth, implementation of the decisions taken by the G20, and investment and trade.

"If we tackle the issues with a shared sense of responsibility, we will send a strong message," he said adding that the G20, which represents countries that account for more than 70 per cent of global GDP, provides an unprecedented platform for policy coordination.

On inclusiveness, the Turkish Prime Minister said he hoped to address the growing challenge of youth unemployment and to bring 100 million more women into the global workforce by 2025.

President Petro Poroshenko of Ukraine told participants at the 45th World Economic Forum Annual Meeting that despite the aggression his country faces, Ukraine is strong and unified.

"Ukraine has become stronger. Ukraine has become more democratic. And Ukraine has become more European," he said.

Poroshenko asked for the international community to continue its support of Ukraine, with political solidarity, with economic aid, and with the provision of defensive military technology.

"We are not only fighting for our territorial integrity and independence, we are fighting for European values," he said.

Ukraine is fully committed to economic reforms, Poroshenko said.

"We want to create a new country, free from corruption, with independent courts and the rule of law. We want to build a new climate for investment," he added.