| Boao Forum for Asia | |
|---|---|
| Formation | 2001 |
| Type | Non-profit organization |
| Legal status | Forum |
| Headquarters | Bo'ao, Hainan Secretariat in Beijing, People's Republic of China |
| Region served | Asia |
| n/a | n/a |
| Website | www.boaoforum.org |
The Boao Forum for Asia (Chinese: 博鳌亚洲论坛; pinyin: Bó'áo Yàzhōu Lùntán), abbreviated to BFA, is a non-profit organisation that hosts high-level forums for leaders from government, business and academia in Asia and other continents to share their vision on the most pressing issues in this dynamic region and the world at large. BFA is modelled after the World Economic Forum held annually in Davos, Switzerland. It has its fixed address in Bo'ao, Hainan, China, although the Secretariat is based in Beijing.
The Forum is committed to promoting regional economic integration and bringing Asian countries even closer to their development goals. Initiated in 1998 by Fidel V. Ramos, former President of the Philippines, Bob Hawke, former Prime Minister of Australia, and Morihiro Hosokawa, former Prime Minister of Japan, the Boao Forum for Asia was formally inaugurated in February 2001. The founding of the BFA was driven by the People's Republic of China and founded by 26 Australasian states on 27 February 2001. The organisation held its first meeting from April 12–13, 2002.
Discussions at the BFA focus on economics, integration, cooperation, society, and the environment. In the past the forum also addressed China's entry into the World Trade Organization, as well as Southeast Asia's economic crisis during the 1990s. The geopolitical strategy 'China's peaceful rise' was a topic of discussion for the forum in 2004. In addition to its annual meeting, the BFA also sponsors other forums and meetings related to Asian issues.
The Boao Forum For Asia Annual Conference 2008 was held on April 10–13, 2008. It was attended by heads of government from countries including Australia, Pakistan, Norway and Kazakhstan. It also saw the historic meeting of Taiwan's Republic of China Vice President-elect Vincent Siew, with People's Republic of China president Hu Jintao.
The Energy, Resources & Sustainable Development Conference for the organisation was held in Perth, Western Australia, Australia between the 11 and 12 July 2011.[1] [2] The conferences brought together business, industry and political leaders in the region to discuss energy and resource security, development and trade.[1] Australian Foreign Minister Kevin Rudd stated China will invest US 1 trillion dollars abroad and Australia is in a good position to attract capital to develop new mines, infrastructure to service China's insatiable appetite for energy and resources. [3][4] Rudd also indicated while Chinese capital is essential for Australia's economic future, China needs to do more in relaxing foreign investment rules for Australian companies such as restrictions on types of businesses, equity restrictions and branch or representative office caps[5][6]
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