Boao Forum for Asia to discuss major issues facing world economies

By Fatima Javed | Gwadar Pro Mar 28, 2023

Boao Forum for Asia to discuss major issues facing world economies

HAINAN, Mar. 28, (Gwadar Pro)- The Boao Forum for Asia (BFA) Annual Conference 2023 is to be held from March 28–31 in Boao, Hainan, under the theme "An Uncertain World: Solidarity and Cooperation for Development Amid Challenges."

The Pakistan Minister for Planning, Development, and Special Initiatives, Ahsan Iqbal, and Former National Security Adviser to the Prime Minister, Moeed W. Yusuf, will be speaking at the Annual Conference.

Among the hot topics for discussion are the Belt and Road Initiative (BRI), the Global Security Initiative, the end of the COVID-19 pandemic, inflation, the new industrial and supply chain landscape, extreme weather events, and climate change, according to the official statement. 

The participants will discuss measures that BRI participating countries should take to deepen cooperation, push for digital transformation, strengthen economic and trade ties, and spur economic recovery and development, according to the statement. 

Participants will also discuss green low-carbon transition and how to deal with environmental and climate challenges in the BRI's construction through collaborative efforts. 

"Because of COVID-19, inflation, geopolitical conflicts and fragmentation, the last three years have been fraught with uncertainty. As a result, we will have experts from all over the world, not just Asia, contributing to the analysis of these problems. We anticipate reaching an agreement on a course of action ", according to Zafar Uddin Mahmood, the Baoa Forum for Asia's policy advisor and secretary general.

This year’s conference will fully resume offline meetings. Moreover, more than 2,000 delegates from 50 countries and regions will be in attendance, including dozens of ministerial-level officials and former heads of state.

The forum will also include discussions and conferences themed on development and inclusiveness, regional and global cooperation, as well as discussions on the present and the future, with a view to promoting international cooperation and consolidating consensus.

BAF was founded in 2000 by China and 25 other regional countries to create an Asian forum comparable to the World Economic Forum in Davos, Switzerland. Since then, it has grown into a major cooperation platform not only for Asia but also for the rest of the world, attracting top officials, business and civil society leaders from all over the world. 

According to analysts, in addition to economic contributions, Chinese diplomatic solutions for addressing various global geopolitical challenges are expected to be highlighted at the BFA annual meeting, including China's recent diplomatic breakthroughs such as the Saudi Arabia-Iran deal and the Ukraine peace plan.

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