56th World Economic Forum in Davos wraps up

By Bahattin Gonultas, Nuran Erkul Kaya and Emir Yildirim

DAVOS, Switzerland/ISTANBUL (AA) - The 56th annual World Economic Forum (WEF) held in the Swiss city of Davos wrapped up on Friday.

Held under the theme of “a Spirit of Dialogue,” the summit welcomed some 3,000 participants for over 250 sessions starting Tuesday. Businesspeople, politicians, academics, and representatives of non-governmental organizations (NGOs) from more than 130 countries attended the event.

Some 64 world leaders and prime ministers from different countries came together to discuss global uncertainties, geopolitical and geoeconomic risks, the global economy, tech transformation, artificial intelligence (AI), and sustainability.

This year’s WEF hosted one of the most intense meetings in recent years with US President Donald Trump returning as president.

Trump left a mark on the summit with his radical proposals in his power struggle with Europe. Participants had formed long and early lines at the conference hall where Trump spoke.

Trump eased some concerns over Greenland by ruling out the option of military intervention on the island, and backed off from imposing tariffs on allies after agreeing on framework for a future deal.

Trump praised the US economy, reiterating the country’s absolute dominance in AI, while saying he could completely stop tech transfers to China.

Topics such as technology and AI took center stage in Davos this year. Investments in AI, which are expected to fundamentally change production and consumption, were deemed as key drivers of economic growth.

The €90 billion ($105.6 billion) credit support for Ukraine, and the proposed Board of Peace were the most significant outcomes of the annual forum.