His Majesty King Abdullah II stressed today that the future begins by "lifting the shadow of catastrophe" and that Israel's "celebrations of independence are hollow while lasting peace is still denied because of unhealed wrongs."

Speaking at the opening session of the World Economic Forum on the Middle East, which opened today in the Egyptian resort of Sharm El Sheikh, King Abdullah said that the real day of celebration will only be when Palestinians and Israelis can both say that they are free and safe.

The King stressed that the only way to guarantee the rights of the region's people is a negotiated settlement. He said that armed action and barriers are futile, adding that "force and isolation bring false peace - and false peace is false security. After 60 years, it is past time to create a new basis for the future, one that recognizes the needs of all."

King Abdullah said that a just peace agreement for Palestinians is one that promises true independence, embodied in a sovereign, contiguous state, capable of fruitful economic life, and secure, sustainable national development. For Israelis, such an agreement would provide true security, bringing an end to conflict and establishing relationships of respect and cooperation across the region.

The King also addressed conditions in Lebanon, stating that recent escalation has threatened to bring sectarian strife and has revived fears of civil war. The Lebanese people, he said, are paying the price of external powers' interference. He emphasised that the Lebanese people must make their own decisions and resolve their own differences, independent of such interference.

King Abdullah also emphasised that the Middle East is in an exceptional position to move forward, citing the financial liquidity that has resulted from rising global energy demand as a resource that can "build on our region's other positive assets - a marketplace of 250 million consumers, a deep tradition of enterprise and learning and a young population, with high aspirations and global awareness."

"Our countries cannot wait for economic growth to solve all our problems, even if it could. We need, right now, to put our minds and resources together, to build structures and processes that will put our countries in a position to succeed," he noted.

This year's World Economic Forum on the Middle East, themed "Learning from the Future", will be attended by more than 1,500 participants, including several heads of state, as well as officials and leading individuals from business, civil society and media from more than 60 countries. Jordanian private-sector representatives will also participate.

According to a press release distributed by the World Economic Forum, the meeting offers participants opportunities to interact directly with leaders in politics, business and culture, to discuss the future of the region and engage in an exchange of ideas. Participants will also have the opportunity to meet with the region's leaders and engage in dialogue about the region's foremost challenges.

The statement added that the Middle East and North Africa region is rapidly becoming a high-growth region, opening up many new opportunities for investment and partnerships.