On Saturday, foreign ministers from several countries including the US, Britain, France And key Syrian allies, Russia and China, met in Geneva to discuss a new proposal for Syria brokered by the UN and Arab League envoy Kofi Annan.br br Annan's proposal calls for the formation of a transitional government paving the way for multi-party elections; with an offer for "significant" international funding to rebuild war-torn Syria.br br Although the proposal is supported by some of the major powers; Russia warned that it should not 'predetermine' the Syrian president Bashar al-Assad's fate.br br In his opening remarks at the conference, the special envoy Kofi Annan admitted that his plan has failed so far in achieving significant results.