The 39th Annual Meeting of the World Economic Forum in Davos-Klosters concluded its deliberations today highlighting the vital role that the West Asian region will play in 'Shaping the Post-Crisis World'.

Nearly 100 government heads and business leaders from West Asia attended the five-day summit, participating in panel discussions on topics as wide-ranging as Sovereign Wealth Fund management to sustainable development.

The deliberations and call for action taken at Davos- Klosters will be further revisited at the World Economic Forum on the Middle East 2009 to be held from May 15-17 at the Dead Sea, Jordan under the theme 'Home-grown Strategies for Global Success'.

"There is a serious deficit in global cooperation when compared to the wide range of pressing challenges such as climate change, energy security, food security, terrorism and proliferation of nuclear weapons.

"With new players emerging on the world stage and a continuing mismatch between 20th century institutions and 21st century challenges, the international system needs to intensify collaboration and develop innovative solutions," said Klaus Schwab, the founder and executive chairman of the World Economic Forum.

The West Asian meet will focus on the role of the region in addressing critical global challenges ranging from systematic financial risk to resource management and political extremism.

Subsequently, government heads, business leaders and civil society leaders will meet in Dubai from November 20 to 22 for the 2009 Global Agenda Summit.