The World Economic Forum on Wednesday opened its 40th annual meeting in Davos, focusing on the global economic situation and a wide range of other pressing issues facing the world.

More than 200 working sessions will be held in the next five days with the participation of some 2,500 delegates from over 90 countries, representing business, government, civil society, academia and the media.

Issues high on the agenda include what lessons the world should draw from the recent financial and economic crisis and how to promote a stable recovery, the world negotiations on climate change, and the reconstruction of quake-hit Haiti.

Like previous meetings in the Swiss alpine resort, participants will also talk about security issues such as the situation in Afghanistan and the Middle East.

A total of 46 sessions have been scheduled for the first day, with topics ranging from the "New Normal" for global growth, the regulation of systemic financial risk, financing low-carbon growth to the challenge of chronic diseases and security in the 21st century.

The participants will include over 1,400 top-level executives from the world's leading companies, some 30 heads of state or government, more than 60 government ministers and more than 100 head of top officials from international organizations and non-governmental organizations.

The opening plenary will be held later in the day with an address by President Nicolas Sarkozy of France.