Jordan's King Abdullah II today opened the World Economic Forum (WEF) conference on the Middle East by declaring that US President Barack Obama's commitment to the two-state solution had "opened an opportunity to change the direction of events" in the Middle East, according to dpa. "I was encouraged by the president's commitment to the two-state solution, within a regional approach to comprehensive peace. I was encouraged that in all my conversations in Washington, it was clear that people know inaction is not an option," the monarch said. "The new American commitment has now opened an opportunity to change the direction of events," king Abdullah told more than 1,400 political, business and civil society leaders who gathered at the eastern shore of the Dead Sea in the fifth such conference since 2004. The Jordanian leader referred to the outcome of his meeting with Obama at the White House on April 21, when the president voiced strong support to the two-state vision for resolving the Palestinian- Israeli conflict. Obama also expressed backing for the Arab peace initiative. "The Arab peace initiative has offered Israel a place in the neighbourhood and more: acceptance by 57 nations, the one third of the UN members that do not recognise Israel," the king said. The three-day meeting is held this year under the theme: "Implications of the Global Economic Crisis for the Middle East: Home-grown Strategies for Success".