Daily Times

With the theme “An Open and Innovative Asia for a World of greater Prosperity”, Boao Forum for Asia Annual Conference 2018 was held in Hainan province of China wherein Prime Minister Shahid Khaqan was a keynote speaker among other world leaders. During the Forum, Prime Minister also met with President Xi Jinping of People’s Republic of China.

The forum provided Pakistan an excellent opportunity to project as successful economic partner in the region with global context to promote the peace and harmony. This has also given a chance to Pakistan to showcase its progress achieved so far through implementing China Pakistan Economic Corridor and other regional connectivity projects.

The Boao forum underscores the commitment to take more responsibility in global affairs with its Asian countries lead initiative to strengthen the cooperation with other parts of the world as well as the collaboration and exchanges among themselves. The forum, established in 2001, was meant to promote Asian economic integration process so as to build a sustainable healthy growth of economies and strengthen the coordination and cooperation.

Boao Forum is a platform where the world leaders from Asian region share insights on the most pressing issues faced by the Asians in particular and world at large. The forum initiated with 26 countries has grown into a most prestigious podium wherein this year 2000 distinguished guests including Presidents, Prime Ministers from 60 countries, business titans and entrepreneurs along with the UN Secretary General and other high representatives of International were present to boost the drive for economic integration processes for the shared destiny and prosperity in the future.

With CPEC and several other important developmental projects in place, Pakistan and China are set to lead the world through new dynamics of peaceful economics

According to analytics, the forum surpassed the importance of its European counterpart, the World Economic Forum where Boao Forum has been referred to as World Economic Forum of Asia.

Since Asia is the world’s economic engine of change and growth, such a large gathering of the decision makers and shapers every year has given this forum a greater clout. This year’s theme provided new impetus to create more diverse and balanced approaches towards the promotion of globalizations to provide assistance and new directions to the Asian states to achieve development goals.

Since its inception, the forum has been able to provide innovation and open solutions and options for a greater prosperity, integration and inclusiveness to the world.

The forum of 2018 has remained significant since this has marked the 40th anniversary of reform and opening up of People’s Republic of China. The timings were perfect for President Xi Jinping to unveil the bold measures needed for the next stage of development after commencement of his second term in office.  Chinese government is further liberalizing the economy and aligning itself with the contemporary global rules for trade, increased market access, expansion of services sector in order to create a welcoming environment for the investors.

This year the forum focused on four main sub-thematic areas, namely globalization, Belt and Road Initiative, Open Asia and Innovation and Reform. During the forum, Chinese Flagship projects like China-Pakistan Economic Corridor (CPEC), Belt and Road Initiatives including the Gwadar port, Chinese-European Freight trains are few of the highlights of the forum.

The keynote address delivered by Chinese President Xi Jinping in the opening ceremony was much anticipated and awaiting since the recent skirmishes between China and US over the trade relations. The address was reflective of President Xi’s outstanding leadership in steering Chinese economic might to next best level.

While sharing the Chinese past experience and achievements, regional security perspective of China, President Xi announced new measures on expanding China’s economic reforms agenda and lowering of tariffs on several products. This was also considered by the analysts as an attempt to defuse the mounting trade dispute with China. President Xi has reflected the Chinese policy of reconciliation and togetherness and opened the door for the potential collaboration with any country of the world including the US.

In the muddy and murky waters of international political wrangling, China has always used to take a strategic long term view over international affairs. As a result of the wisdom of the Chinese leadership and the sense of the global responsibility, threat of  trade war between the US and China has been averted as a result of President Xi Jinping saying that the trade conflicts are pointless and will not support the idea of any other cold war between Beijing and Washington.

This reflects the maturity and the wisdom from the Chinese leadership in handling any emerging threat to its national interests globally. Along with that, Chinese President Xi Jinping met with all top leaders, with the aim of creating a new consensus on trade issues. The Boao gathering played a unique role in pushing forward regional integration and help with the trade issue between China and the US.

For Pakistan, the forum has entire new significance and openings for several important reasons. Pakistan not only enjoys deep rooted relations with China but has a very important place in the Chinese vision of a new era of prosperity and development at the regional and international level. Since China is looking to pursue its agenda of globalization and seeking cooperation in the economic, cultural and other fields focusing on international regimes, Pakistan has a very strategic place.

With CPEC and several other important developmental projects in place,   Pakistan and China are putting hand in hand to lead the world with new dynamics of peace through economics. Pakistan is the driving force of this vision and has played a constructive role in the development of the vision into the reality.

World has changed greatly and Pakistan needs to look out for the new options to play its constructive role in the Asian region to find allies and strengthen its presence for the economic and political clout and find the way forward with the other Asian countries. It has to find peace with its insecurities to utilize the forums with vision and aptness that is required and order of the day. It is time that Pakistan needs to develop strategy and vision to sail smoothly in the murky waters of international politics.

Boao Forum has developed into one of the largest gathering of the international leaders with shared visions and progress. As a result of the patronage of China to this forum and with its hardworking people and leadership, the forum has gained currency globally.

China’s emergence as the major power is creating and offering new opportunities across Asia and beyond. With impressive vision as Belt and Road Initiative and adapting new systems, China is all set to open the doors of economic prosperity for the world. Boao Forum is providing a platform to realize the potential and concept of peace through economics and Asian countries looking towards the open, cooperatives relationship with other regional and international partner hence making peace, development and prosperity easier to achieve.

The writer is President, Institute of Peace and Diplomatic Studies and Pakistan-Shanghai Cooperation Organization Friendship Forum

Published in Daily Times, April 28^th 2018.