Egyptian President Hosni Mubarak addresses the opening ceremony of the World Economic Forum (WEF) Middle East Conference in Egypt's Red Sea resort of Sharm el-Sheikh on May 20, 2006. (Xinhua Photo)

SHARM EL-SHEIKH, Egypt, May 20 (Xinhua) -- Egyptian President Hosni Mubarak said on Saturday that progress and development would not be achieved in the Middle East without solving regional conflicts and tensions.

    Mubarak made the remarks when delivering an opening speech at the World Economic Forum (WEF) on the Middle East, which kicked off in Egypt's southern Sinai resort of Sharm el-Sheikh on Saturday afternoon.

    "Those conflicts and tensions have resulted from the stalemate of the Palestinian-Israeli peace process, the situation in Iraq,the controversy over Iran's nuclear program, the situation in Sudan's western region of Darfur and the dispute between Syria and Lebanon," said Mubarak.

    "The winds of change in the region will not bear fruit without a serious international commitment to confronting the threat of terrorism or a zone free of weapons of mass destruction," he added.

    "The Palestinian issue, and the Arab-Israeli peace more broadly, will remain the core concern for peace and stability in the MiddleEast," Mubarak told the nearly 1,000 attendees including Palestinian President Mahmoud Abbas.

    "The international community must assume its responsibilities in dealing seriously with this issue," urged Mubarak, who alsocalled on the Quartet of key Mideast peace mediators and regionaland international players to push forward the long-stalled peace process.

    The Quartet consists of United States, the European Union,Russia and the United Nations.

    In addition, Mubarak promised that Egypt, a regional heavyweight, would continue efforts toward achieving a just,lasting and comprehensive peace between the Palestinians and Israel, Arabs and Israel.

    Egypt, a close ally of the United States in the region, has long played a mediating role between the Palestinians and Israel.

    "Despite the conflicts that still afflict this region, the future appears bright and full of promise," he said. "In Egypt, we remain confident that they can be overcome and that the region is capable of staying the course."

    Regarding his own country, Mubarak said that Egypt had embarked on the path of reform for many years and many indications showed that Egypt was on the right path.

    "Egypt's political arena is vibrant and the national economy has regained its strength and ability to achieve high rates of growth and employment," said Mubarak, adding that social safety net had also proved its success in mitigating the adverse effects of reform.

    Egypt would continue to build the pillars of its democracy and strive toward a modern society, said the president.

    "We will continue to liberate the forces of the market and lay the foundations for economic freedom," he concluded.

    The three-day forum, held in Egypt for the first time, is the fourth of its kind, under the theme of "The Promise of a New Generation" this year.

    The previous three annual forums have been held on the Jordanian shore of the Dead Sea since 2003.

    Egypt hopes that the high-level event, set to attract world limelight, will show its economic reform progress and help draw in more investment and boost trade. Enditem