HAINAN- The significant impact of Asia on the global economy has been highlighted with the commencement of the Boao Forum for Asia (BFA) Annual Conference 2025 in the Chinese province of Hainan.Notable attendees at the BFA's opening ceremony, held in the town of Boao on Thursday, included Ban Ki-moon, the forum's chairman and former UN Secretary-General, Chinese Vice Premier Ding Xuexiang, and Bangladeshi interim government's Chief Adviser Muhammad Yunus.In a speech, Ding, who is also a member of the Standing Committee of the Political Bureau of the Communist Party of China Central Committee, called for strengthening mutual trust, enhancing win-win cooperation, promoting economic globalization, safeguarding the free trade system, and opposing trade protectionism.He said regional economic integration has been strengthened, and Asia's share in the global economy is steadily rising.The vice premier noted that it is necessary to strengthen solidarity and cooperation through greater mutual trust.Ding also underscored the need of safeguarding tranquility and stability through peaceful coexistence.More than 1,500 representatives from over 60 countries and regions, including officials, business leaders, and scholars, attended the BFA's opening ceremony.Running from March 25 to 28, this year's conference is themed "Asia in the Changing World: Towards a Shared Future."On Tuesday, the BFA released the Asian Economic Outlook and Integration Progress Annual Report 2025.
It said the proportion of the GDP of Asian economies in the world is expected to rise from 48.1 percent in 2024 to 48.6 percent in 2025, calculated by purchasing power parity.The BFA is a non-governmental and non-profit international organization that was founded in 2001.
It is committed to promoting regional economic integration and bringing Asian countries closer to their development goals.