Millennium Post

Xi to inaugurate Bao global show today; Sachin to represent India

Corporate Affairs Minister Sachin Pilot will take part in the three-day annual Bao Forum for Asia in China's Hainan Province beginning from Saturday.

More than 10 states and government leaders from Asia and other regions will take part in the BFA, the Chinese body modelled on the lines of the prestigious Davos Forum, to be inaugurated by China's new President Xi Jinping to discuss Asia's role in global economic recovery, an official statement said.

Pilot would take part in the session on Global Recovery Path and Role of Asia. Over 50 Indian corporate and business leaders are expected to take part in it, Indian Consulate General in Guangzhou K Nagaraj Naidu said. He said the BFA is becoming important gathering in Asia every year as a number of political and business leaders and think-tanks are taking part in it.

BFA is also becoming an important point of entry for those interested to invest and trade in China as it provided a good platform for interaction with Chinese politicians and economic think-tanks, he said.

Earlier investors needed to come through Hong Kong to invest in China and now it was over taken by BFA, Naidu said.

Under the theme of 'Asia Seeking Development for All: Restructuring, Responsibility and Cooperation,' this year's forum concentrates on topics relating to 'restructuring' as economists from home and abroad have been invited to discuss China's reform in the past three decades, as well as in the next ten to 15 years, BFA Secretary-General Zhou Wenzhong said.

'The forum provides a platform for high-level leaders from government, business and academic circles to discuss pressing global and regional issues in Asia,' state run Xinhua quoted him as saying. He said the forum is intended to promote the Asian tradition of seeking win-win results, as well as help regional economies look for common ground, transcend differences and pursue common development.

Highlights of this year's forum includes a newly set up Africa panel and Latin America panel.

President of the Republic of Zambia, Michael Chilufya Sata, Mexican president Enrique Pena Nieto and Peru's president Ollanta Humala will share experiences on transformation and innovation, and also reflect on development paths of their own.

'The setup of those panels is an innovation in this year's forum as it reflects the trend of globalisation and the common ground on which developing countries should work together to seek development,' said Zhang Xiaokang, a high-profile official with Asia Europe Meeting, an inter-regional forum.

The Bao forum will also cover topics concerning people's daily life such as property, Internet, health and urbanisation, to name a few. Chinese President Xi Jinping will deliver a keynote speech at the opening ceremony of the forum, the statement said.

A non-governmental and non-profit international organisation founded in 2001, the BFA works to promote regional economic integration and bring Asian countries closer to their development goals.
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