World Economic Forum its name to the World Economic Forum in 1987 and sought to broaden its vision to include providing a platform for resolving international conflicts. In the summer of 1971, Schwab invited 444 executives from Western European firms to the first European Management Symposium held in the Davos Congress Centre under the patronage of the European Commission and European industrial associations, where Schwab sought to introduce European firms to American management practices. He then founded the WEF as a nonprofit organization based in Geneva and drew European business leaders to Davos for the annual meetings each January. Schwab developed the "stakeholder"
International Economic Forum of the Americas of Montreal, the Toronto Global Forum, the World Strategic Forum and the Conference of Paris. The International Economic Forum of the Americas was founded in 1995, when Gil Remillard, a former Minister of Justice of Quebec, held an inaugural Conference of Montreal, on June 20–22, 1995. At the time, the globalization of the economies was beginning to emerge at an increased rate. With the fall of communism, the success of the "Uruguay round" in 1989, the creation of the World Trade Organization (WTO) in 1994 and the beginnings of North American Free Trade Agreement (NAFTA), the world was ready to