Boao Forum for Asia advocates economic globalisation
The 2017 Boao Forum for Asia concluded in Hainan, China on March 26 after four days of working, with a statement advocating economic globalization, cross-border trade and investment liberalisation.
Overview of 2017 Boao Forum for Asia (Source: VNA)
Beijing (VNA) – The 2017 Boao Forum forAsia concluded in Hainan, China on March 26 after four days of working, with astatement advocating economic globalisation, cross-border trade and investmentliberalisation. The statement put forward six initiatives, urging Governments to consider economic globalisation as a positive force, and to workthrough dialogue and cooperation to reform and perfect the internationaleconomic order and global governance systems, with policies to ensure benefits ofeconomic globalisation more widely shared. Cross-border trade and investment liberalisation arethe driving forces of global development, the statement said, calling onGovernments to protest trade protectionism and continue with the liberalisationof trade and investment as well as reform of multilateral mechanisms andgovernance. International organisations such as the World TradeOrganisation and the Asia-Pacific Economic Cooperation (APEC) Forum should worktowards a more open, inclusive, fair and equitable bilateral and multilateraltrade system, while multilateral financial organisations like the InternationalMonetary Fund and the World Bank were urged to improve supervision of globalfinance, supporting cross-border capital flows and working to lessen impacts onthe real economy. The statement also suggested that countriesimplement public private partnership (PPP) model flexibly to facilitatetechnological innovation and cross-border movement of knowledge and information. It called for the building of an open mechanism formultilateral cooperation to ensure balance in globalisation, with infrastructureand institutional and people-to-people connectivity promoted. Under the theme “Globalisation and Free Trade: TheAsian Perspective”, this year’s Boao Forum attracted 1,727 delegates who arepoliticians, businesspersons, scholars and reporters from 50 countries andregions.-VNA
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