This is the first time Sri Lanka has been invited to attend the annual meeting of the WEF, which has been held for over 40 years.

Invitations are extended only for selected heads of governmentheads of states, in addition to other business and industry partners. Over 50 delegates including heads of governments, ministers involved in the subject of economic affairs, leaders of international financial institutions including the hierarchy of the World Bank will attend.

Development Strategies and International Trade Minister Malik Samarawickrema and Finance and Planning Minister Ravi Karunanayake will accompany the Prime Minister.

The Annual Forum in Davos-Klosters remains the foremost creative force for engaging the world's top leaders in collaborative activities focused on shaping the global, regional and industry agendas.

This year's theme of the meeting is "Mastering the Fourth Industrial Revolution".

Some of the other dignitaries and prominent personalities who have been invited include Prime Minister of Canada Justin Trudeau, UN High Commissioner of Human Rights Zeid Ra'ad Al-Hussein, Prime Minister of Pakistan Nawaz Sharif, and Prime Minister of Israel Benjamin Netanyahu.

The forum was founded in 1971 by Kalus Schwab, a German born business professor at the University of Geneva. First named the 'European Management Forum', it changed its name to the 'World Economic Forum' in 1987' and sought to broaden its vision to include providing a platform to resolving international conflicts.

Events in 1973, including the collapse of the Bretton Woods fixed exchange rate mechanism and Arab-Israeli war saw the annual meeting expand its focus from management economic and social issues and for the first time political leaders were invited to the annual meeting in January 1974.

In 2006 the foundation opened regional offices in Beijing and New York city.