Muhammad Zamir Assadi
Boao, March 25: China has contributed to more than 30 percent of global economic growth by recording 6.7 percent GDP in last year, Chinese Vice Premier Zhang Gaoli said on Saturday at the opening ceremony of Boao annual Forum 2017.
The theme for 2017 conference is “Globalization and Free Trade, The Asian perspective” which focuses on the connectivity and integration of Asian economies for better financial and fiscal condition.
Vice Chinese PM said that economic fundamentals remain unchanged despite economy entering into a new normal.
It is predicted that China will import products worth of 8 trillion U.S. dollars in the next five years while the investment of 600 billion dollars will be attracted so opening-up and easier access for foreign investment policies will be continued, said Zhang at the Boao Forum for Asia in south China’s Hainan Province.
There are much more chances for foreign investment in service, manufacturing and mining sectors so the policies will be kept more smooth.
He announced that President of China Xi Jinping attaches a great importance to Boao Forum as it is all about the betterment of the economies.
This forum avails the best opportunity for answering all of the concerns and strengthening the exchanges between Asian countries as it is also important for rapid development in the continent.
Zhang also said that at the end of the 2nd WW globalization benefitted to all so the concept must be encouraged.
Asian countries took active part in economic globalization as they have also adopted their own path for economic integration.
Zhang also said that Asian nations have cooperated with each other despite the difficulties faced so now they have to act in productive way.
The vice premier said China will continue to stabilize growth, promote reform, adjust the economic structure, improve people’s well-being and control risks to ensure stable and healthy development this year.
Chairman for Boao Forum Yasuo Fukuda said at the opening ceremony that there are promising prospects for Asian economies in the future with the bundle of challenges which can be handled in an effective way with better economic policies.
International economists have shown the confidence that economic growth in Asia is stable while stock markets were showing recovery from the sluggish world economy.
In favor of the globalization, chairman said that emerging countries of ASIA benefitted from the internationalization and free trade.
Developing countries also took advantage from the concept so anti-globalization voices and trade protectionism must be condemned as it has no place.
He said that more openness and inclusiveness was the dire need of the time which must be supported.
The commitment for globalization must be pursued as it is not an impossible task for the future of the progressive economy.
Other Asian leaders including President of Madagascar Hery Rajaonarimampianina, Micronesian President Peter M. Christian, Nepali Prime Minister Pushpa Kamal Dahal, Fazal Hadi Muslimyar, chairman of Mushrano Jirga and Myanmar’s Vice President U Myint Swe also addressed the opening ceremony and expressed their resolve to support the globalization and free trade by admiring the role of China in the development of infrastructure and other sectors in their respective and the continent.
In a speech, President of Madagascar mentioned that economic globalization and free trade would bring shared opportunities for all.
At the opening ceremony, Micronesian President appreciated China’s long-term support for his country and would take an active part in the Belt and Road Initiative.
Nepali Prime Minister also highlighted the gains of globalization to bundle of countries and reiterated his commitment to the concept.
Chairman of Mushrano Jirga of Afghanistan described that his country is open for international investment as there are millions of natural resources still to be discovered.
Muhammad Zamir Assadi is a journalist based in China. He writes opinions on different international issues including One Belt One Road, foreign relations, conflict zones and war on terror. He may be contacted at email@example.com
The story originally published in The Caspian Times