Background: History of Boao Forum

Source: CCTV.com | 04-11-2008 13:55

The Boao Forum for Asia is fast becoming a symbol of Asian prosperity, stability and harmony. The forum was set up in 2001, as the region began to recover from the 1997-98 financial crisis. It promotes economic dialogue and cooperation among its members.

Asia's influence in world economics and policy has been steadily growing since the end of World War Two.

Despite setbacks like the financial crisis that hit the region in 1997, the record has been one of steadily increasing prosperity for many of the peoples of the region.

Today, more and more Asian countries and regions are realizing the advantages of cooperating in the interests of strengthening the competitiveness of the region as a whole.

Against this backdrop, in 1998, former Australian Prime Minister Bob Hawke, former Japanese Prime Minister Morihiro Hosokawa and former Filipino President Fidel Ramos suggested setting up an Asian Forum.

A number of countries in the region were quick to endorse the idea.

They included China.

In fact Boao, in the southern Chinese province of Hainan, has become the permanent home of the forum.

The Inauguration Ceremony of the BFA was held on February 26th, 2001.

Since then, the BFA has developed steadily, drawing in more countries from the region, and extending its influence into the wider international community.

Today, the BFA is playing an increasing prominent role in regional economics and policy making.

It's showing the world the desire of the Asian people for a win-win scenario through closer cooperation.

Editor:Xiong Qu