Recent turmoil in global financial markets and fears of a US recession must not be allowed to divert businesses and governments from other pressing issues, the organisers of the World Economic Forum said on Wednesday.

Tony Blair, the former British prime minister, joined other co-chairs of the event in calling on delegates to take a longer-term view. The meeting was “bound to be dominated to some extent” by economic concerns, he said, but he expected more progress to be made on other subjects.