The statement put forward six initiatives, urging governments to consider economic globalization as a positive force, and to work through dialogue and cooperation to reform and perfect the international economic order and global governance systems, with policies to ensure benefits of economic globalization more widely shared.

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Overview of 2017 Boao Forum for Asia 

Cross-border trade and investment liberalization are the driving forces of global development, the statement said, calling on Governments to protest trade protectionism and continue with the liberalization of trade and investment as well as reform of multilateral mechanisms and governance.

International organizations such as the World Trade Organization and the Asia-Pacific Economic Cooperation (APEC) Forum should work towards a more open, inclusive, fair and equitable bilateral and multilateral trade system, while multilateral financial organizations like the International Monetary Fund and the World Bank were urged to improve supervision of global finance, supporting cross-border capital flows and working to lessen impacts on the real economy.

The statement also suggested that countries implement public private partnership (PPP) model flexibly to facilitate technological innovation and cross-border movement of knowledge and information.

It called for the building of an open mechanism for multilateral cooperation to ensure balance in globalization, with infrastructure and institutional and people-to-people connectivity promoted.

Under the theme “Globalization and Free Trade: The Asian Perspective”, this year’s Boao Forum attracted 1,727 delegates who are politicians, businesspersons, scholars and reporters from 50 countries and regions.

Source: VNA