Klaus Schwab, Executive Chairman and Founder of the World Economic Forum, asserted that the keenness of more than 1,200 delegations from different world countries to participate in the WEF talks on the Middle East, that are to open in this Egyptian Red Sea resort this afternoon, sent a strong message to the international community that attested to Egypt's stability and to the strength of its economy.

Addressing a news conference he gave at the new Sharm international conference centre that is house the international event, he said that the many changes that had taken place in the Middle East region since the WEF last met in January was full of positive development.

He said that the forum talks should concentrate on shedding light on the air of hope that was blowing across the area where "a new spirit, that seeks reform and modernization, has emerged".

Commending Egypt for the marvelous work it did with its new convention centre, he said that the way the Egyptians established such a well-designed, state-of-the-art building in just eight months told a lot about their immense potentials and their ability to embark on new levels of achievement.

Schwab said that the WEF carries to the Middle East countries the message that "dialogue is better than confrontations". It will tell them that they should bolster understanding and cooperation among their politicians, businessmen and financiers within the framework of a peaceful society that seeks development, confronts challenges and resolves problems in a modern style that is based on broad-based participation, he said.

Answering a question about the political inclinations of the WEF, he said that the old traditional barriers that used to separate between the countries of the South from those of the North no longer exist.

The new challenges of the era, for instance the problems of environment unemployment and economic instability, have become a matter of global concern, he said noting that to address each and every one of these problems the governments of world countries must work together assisted by the civil society organizations and the business and youths communities

Schwab delivered a speech at the start of the inaugural session in which he welcomed President Hosni Mubarak and heads of state and government taking part in the forum.

Schwab affirmed the existence of a new spirit in the forum focusing on practical solutions, pointing out that the participation of a large number of businessmen and officials reaffirmed the intention of the region's peoples to create a better atmosphere for social, economic and political development.

He thanked President Mubarak, the Egyptian government and people for the cooperation they showed to render the conference a success.

He pointed out that the Egyptian people enjoyed intelligence, creativity and ability for establishing giant edifices such as the conference centre in Sharm which he said was built in just eight months.

He added that the Egyptian educational initiative was launched in the morning under the auspices of Mrs Suzanne Mubarak, wife of President Hosni Mubarak, pointing out that such initiative was the best example of cooperation between non-governmental organizations and governments.

Klaus hailed President Mubarak as a man of courage shouldering onerous tasks; the builder and maker of a modern Egypt, and a leader with the ability to confront challenges of the 21st century.