China to continue support for globalization and free trade By Raza Khan

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Boao:China has said that mutual cooperation and joint economic ventures are key for the development of Asian countries and uplifting the living standard of the people in the region.

“We are living in the age of economy and globalization thus no country can achieve the targets of developments at its own,” 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.

The Chinese vice PM added that his country contributedmore than 30 percent of global economic growth by recording 6.7 percent GDP in last year.

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.

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 said that economic globalization is the key for the success of Asian nations so they should work together in this regard. He also said that at the end of the 2nd WW globalization benefitted to all so the concept must be encouraged.

“Asian Countries have to make their own way for the economic development, Zhang said adding that Asian nations have cooperated with each other despite the difficulties and hardships.

He added that China was aware of current economic problem faced by the Asian countries. “We should be committed to peace and development,” the vice PM added.

He also emphasized for the peaceful settlements of disputes among all the Asian countries. “Economic development cannot be achieved without peace and mutual respect,” the vice premier reminded.

Zhang said that China will continue to stabilize growth, promote reform, adjust the economic structureand 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 includingPresident 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 Swealso 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.

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