Boao forum delegates call for renewed action, cooperation to meet challenges

Themed “An Uncertain World: Solidarity and Cooperation for Development amid Challenges,” the Boao Forum for Asia (BFA) Annual Conference 2023, which was held from March 28 to 31 in south China's Hainan Province, focused on challenges and opportunities in an uncertain world.

World leaders attending the annual conference called for cooperation and renewed action to meet global challenges and highlighted China's role in bringing about global prosperity.

This photo taken on March 27, 2023 shows a fountain square in front of the Boao Forum for Asia (BFA) International Conference Center in Boao, south China's Hainan Province. (Xinhua/Fan Yuqing)

China and Asia major engines of world economic recovery

During the annual conference, the international community made strong calls for mutual development. Nonetheless, development requires a peaceful and stable international environment, as well as solidarity, mutual assistance and cooperation among countries.

Chinese Premier Li Qiang on Thursday morning delivered a keynote speech at the opening ceremony of the Boao Forum for Asia's (BFA) annual conference, saying that the certainty China offers has been and will remain an anchor for global peace and development amid the uncertainties across the world.

“Every cloud has a silver lining. The good news is, emerging and developing Asia remains the best hope and chief driver of global growth. Combined, they would contribute to three quarters of global growth," said Ban Ki-moon, the 8th Secretary-General of the United Nations and the Chairman of the Boao Forum for Asia. He urged the world to seize a rare window of global development and prosperity.

“We look forward to participating in new growth opportunities in China’s dynamic economy. And we look forward to all parties contributing more actively to regional development and prosperity, to benefit Asia and the world,” Lee Hsien Loong, Singapore’s Prime Minister, noted in his address to the opening ceremony.

“ASEAN has responded quickly to challenges ahead and hopes to deepen cooperation with partners in RCEP (Regional Comprehensive Economic Partnership),” said Sok Sopheak, Secretary of State of the Ministry of Commerce, Royal Government of Cambodia.

“Based on your leadership and international institutions, it seems that the Chinese economy is on the way to recovery, demonstrating the growth [target] of 5 percent. That’s probably one of the largest growth in the world,” Renat Bekturov, Governor of Astana International Financial Centre, told People’s Daily Online.

Belt and Road Initiative is a vision of great significance

“Solidarity and cooperation is best exemplified in the realization of the Belt and Road Initiative (BRI). With the (COVID-19) pandemic behind us, we should try to gain or regain its momentum,” said Malaysia’s Prime Minister Datuk Seri Anwar Ibrahim when addressing the opening ceremony.

Bekturov also noted that the BRI has had a significant impact on the world. He stressed that the BRI has brought many projects to Kazakhstan, such as the port in the east of the country, which is the world's largest dry port. In addition, the construction of the railway network has created what is now called “a middle corridor”, which has become increasingly important for shifting goods from east to west. This vision, which was proposed ten years ago, has had a tremendous impact and significance for Kazakhstan.

“China has shared its success with us and other countries [through] the BRI. This is a very powerful vision of President Xi Jinping, in which he believes that the success of China must be shared with other developing countries,” said Ahsan Iqbal Chaudhary, Minister for Planning, Development and Special Initiatives of Pakistan during an interview with People’s Daily Online.

Paolo Borzatta, board member of The European House - Ambrosetti, remarked on the importance of the Belt and Road, especially in the Central Asian region. He also mentioned that BRI is playing a role in connecting Asia and Europe. “We were so amazed by the vision of BRI,” said Borzatta.

Delegates attending the annual conference agreed that as an important global public good, the BRI has enriched the mechanism and content of international cooperation for development since it was launched a decade ago.

Going Green, Going Digital

“Green and digital technologies, together with biotech, new materials, drones, pilotless driving, aerospace and AI, are the most encouraging news for the world economic outlook,” said Ban Ki-moon, noting that it is technology and innovation that will lead us out of the shadow of recession into the next wave of global prosperity.

“Switching to renewable energy will lead to unprecedented economic growth, full employment, and material improvement in the standard of living of all citizens. China, more than any other country, can lead this decisive action,” said Andrew Forrest, executive chairman of Fortescue Metals Group when delivering a speech at the opening ceremony.

“Your country can rapidly empower the global community to decarbonize in months and years, rather than years and decades, by supplying the equipment mankind needs with joint ventures all over the world. You have the leadership, the capital and the massive technical and industrial base to make this happen,” he said.

Bekturov mentioned that digitalization has transformed the world, especially in the last few years with COVID-19 lockdowns.

“It has enhanced communication and made many things more convenient for people. For example, digital banks have brought a lot of convenience, and the development of trade has also benefited from digitalization,” he said.

He noted that digitalization is an important area to invest in because trade is not only about physical infrastructure but also about soft infrastructure. If goods can move freely when digitalized, the trading costs of exporting and importing will be reduced, and that will lower trade barriers.