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Boao Forum

  • 22 Apr 2021
  • 3 min read

Why in News

The opening ceremony of the Boao Forum for Asia (BFA) Annual Conference 2021 was recently held in Boao, south China's Hainan Province.

  • The BFA, this year, is celebrating its 20th Anniversary.

Key Points

  • About BFA Annual Conference 2021:
    • The forum witnessed more than 2500 participants coming from more than 60 countries. This year's theme is ‘A World in Change: Join Hands to Strengthen Global Governance and Advance Belt and Road Cooperation’.
    • The main agenda is to strengthen mutual understanding in the post-pandemic era, create additional incentives for overall socio-economic growth and effective global governance.
    • An annual report on Asian Economy was released on the occasion which highlighted the importance of Asian economies which have fared well despite the ongoing pandemic.
  • About Boao Forum:
    • The Boao Forum for Asia (BFA) is an international not for profit organization which was jointly initiated by 26 member states in 2001, the members have now increased to 29.
      • India is also a member of the BFA.
    • Its annual conference is held in Boao, Hainan province of China on a regular basis.
    • The establishment of BFA is modelled on the lines of the World Economic Forum which bases its annual meeting in Davos-Klosters, Switzerland. Thus earning the name of ‘Davos of the East’.
    • The founding purpose of BFA was to promote economic integration in Asia. Its mission now is to pool positive energy for the development of Asia and the world.
      • The forum has not only played a unique role in pooling consensus and putting forward valuable "Boao proposals," but also engaged countries in addressing global issues and promoting world development and prosperity.
    • Its five focal areas include technology innovation, health, education, culture and media in response to the new economy.

Source: TH

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