World Economic Forum organizers expect leaders, including Chinese President Xi Jinping, Indian Prime Minister Narendra Modi, German Chancellor Angela Merkel, and South African President Cyril Ramaphosa, to hold a virtual meeting next week - after the Davos event was canceled due to the coronavirus pandemic, AP reported.

Forum founder Klaus Schwab noted that the goal of the Davos Agenda Week virtual meeting is to restore trust and engage all stakeholders in the business, government, civil society, and beyond to help build a more peaceful and prosperous post-coronavirus era.

Borge Brende, the forum president, noted that Xi and Modi will join Japanese Prime Minister Yoshihide Suga and South Korean President Moon Jae-in. Leaders will review Asia's role in recovering from the effects of the coronavirus pandemic.

Israeli Prime Minister Benjamin Netanyahu, French President Emmanuel Macron, and Colombian President Ivan Duque are also expected to take part in the meeting.