DAVOS, Jan. 24 – Ukraine is planning to host a regional summit on Europe and Asia as part of the World Economic Forum in Kiev, President Viktor Yanukovych said.

"We are planning to hold a summit of European and Eurasian countries in Ukraine in the near future and it will give us an opportunity to overcome the challenges our countries are facing today," Yanukovych said in Davos on Thursday following a meeting with World Economic Forum founder Klaus Schwab.

According to Yanukovych, only improved compatibility of economies in these countries, creation of a mechanism for dynamic and flexible responding to these challenges could stimulate economic growth.