President of Mongolia Tsakhiagiin Elbegdorj arrived in Davos, Switzerland, to attend the 45th annual meeting of the World Economic Forum which is scheduled from January 21 to 24th, 2015. The World Economic Forum /WEF/ was founded in January 1971 when a group of European business leaders met under the patronage of the European Commission and European industrial associations. German-born Klaus Schwab, then Professor of Business Policy at the University of Geneva, chaired the gathering, which took place in Davos, Switzerland. The organization was subsequently incorporated as a not-for-profit Foundation.

At this year’s Forum, President Elbegdorj is accompanied by Minister of Foreign Affairs L.Purevsuren and other officials from Mongolia. Mongolia has always attached great importance to the World Economic Forum. Besides active participation in the Forum, Mongolia has successfully co-organized the WEF meetings including: the “Fair Mineral Development” roundtable meeting in 2010, the “Partnering Against Corruption Initiative” roundtable meeting in 2011 and the “Water Secure Future in Mongolia” conference in 2011 respectively. Mongolia joined the WEF’s Partnering Against Corruption Initiative /PACI/ and established anti-corruption network in Mongolia. Last year a Memorandum of Understanding on cooperation was signed between the Ministry of Foreign Affairs of Mongolia and the WEF, and in the scope of this, a roundtable meeting “Strategic Dialogue on Mongolian Development” was held in Ulaanbaatar.