US President Donald Trump formally launched his Board of Peace initiative at a signing ceremony in Davos on January 22, with representatives from more than 20 countries endorsing the charter for an international organisation originally conceived to oversee Gaza reconstruction.

"Once this board is completely formed, we can do pretty much whatever we want to do," Trump said at the World Economic Forum, adding that the body would work with the United Nations.

The US president called it a "very exciting day, long in the making", declaring: "We're going to have peace in the world. And we're all stars."

US Secretary of State Marco Rubio said the board's priority was ensuring the Gaza peace deal becomes enduring, though the possibilities for the organisation were "endless".

"This is not just a Board of Peace, this is a board of action, just like President Trump is a president of action," Rubio said. "This is a group of leaders that are about action."

Countries signing the charter included Albania, Argentina, Armenia, Azerbaijan, Bahrain, Belarus, Bulgaria, Egypt, Hungary, Indonesia, Israel, Jordan, Kazakhstan, Kosovo, Kuwait, Mongolia, Morocco, Pakistan, Paraguay, Qatar, Saudi Arabia, Turkey, the United Arab Emirates, Uzbekistan and Vietnam, according to ABC News and BelTa.

The 11-page charter makes no direct reference to Gaza, instead proposing a broad mandate for an international organisation that "seeks to promote stability, restore dependable and lawful governance, and secure enduring peace in areas affected or threatened by conflict".

Trump will serve as permanent chairman with sweeping authority, including veto power over key decisions and final authority on charter interpretation. The founding executive council includes Rubio, former British Prime Minister Tony Blair, Trump's son-in-law Jared Kushner, US Special Envoy Steve Witkoff, Deputy National Security Adviser Robert Gabriel, World Bank President Ajay Banga and Apollo Global Management CEO Marc Rowan.

Countries seeking permanent membership face a $1bn contribution fee, whilst non-paying members would have a three-year mandate, according to the charter.

Several key US allies declined to sign. Finnish President Alexander Stubb told CBS News that European countries required parliamentary approval for joining international organisations and wanted the board more closely linked to the UN. British Foreign Secretary Yvette Cooper said the UK had concerns about Russia being invited "when we've still not seen any signs from Putin that there will be commitment to peace in Ukraine".

Russian President Vladimir Putin said Moscow was consulting with "strategic partners" before deciding on participation, whilst pledging $1bn in aid to Palestinians using frozen assets.

White House Press Secretary Karoline Leavitt said the Board of Peace has officially become an international organisation, with other countries able to join. The structure is planned to operate beyond Gaza in other regions.