The annual meeting 2022 of the World Economic Forum (WEF) wound up on Thursday in the Swiss town of Davos, calling for closer global cooperation to achieve win-win solutions.

"We are better off in a world where we meet and act together than in one where everyone is for themselves," President of the WEF Borge Brende said in the closing remarks, adding, "We should recreate a win-win world."

Brende said this was "the first time we came together after the start of the COVID pandemic ... and also sadly ... the first time we meet after return of war in Europe."

Brende said great progress has been made in many areas during the meeting, such as planet and climate change, public health and global collaboration.

He said the initiatives forged "reminded us once more how interconnected we are all on our planet. The global connectedness branches out to other areas at a time of rising inflation, fragile food and energy systems and increased inequality."

He said that "as we move forward, we need to build resilience to avoid future catastrophes, because the cost of inaction far exceeds the cost of action."

The annual meeting officially kicked off on Monday, focusing on four major challenges: geopolitical risks, pandemics, climate change, and global economic risks.

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