WEF meeting ends with hopes for better, cleaner economy

Global leaders expressed hope for better economic growth with lesser trade tensions and a safer planet with commitments to work in areas like climate change, as the 50th annual meeting of the World Economic Forum ended in Davos on Friday.

In the closing session, IMF chief Kristalina Georgieva said the world is a better place today but economic growth still remains sluggish, though the momentum is expected to pick pace.

She also said the Indian economy is expected to bounce back, while she named Indonesia and Vietnam as the new bright spots in the emerging world, a place earlier occupied by India.

Borge Brende, President of World Economic Forum (WEF), in his closing remarks said the 50th annual meeting has been truly remarkable.

"It was remarkable due to the real progress that we created together on a spectrum of issues, on public/private collaboration, which is crucial.

"We laid the basis for a decade of delivery. The National Business Council, incorporating 140 of the world's largest companies, agreed to support efforts to develop a core set of common metrics and disclosures that could be used to measure private sector progress against key environmental, social and governance goals," Brende said.

He also drew attention to initiatives to promote entrepreneurship in Africa, work with the OECD to promote inclusive and sustainable growth globally, introduction of a reskilling revolution and many other key deliverables and commitments.