The Asian financial crisis of 1997 has galvanized Asian
countries to exert their collective capabilities to avoid another
such economic catastrophe, says Fidel V. Ramos, chairman of Boao Forum for Asia (BFA).
In his message to the BFA, which will begin its annual
conference on Saturday in the?town of Boao in south China's Hainan Province, the former Philippine
president said the challenges of globalization and continuing
threat of international terrorism will test the solidarity of the
Asian family.
The lack of core technical competence and the fragility of
financial regulatory systems led to the Asian financial crisis and
severely impacted the economic and social development of many Asian
countries, said Ramos.
He said that the BFA is playing an increasingly important role
in Asia's economic integration and human development, and its
influence is steadily growing.
The theme for the 2007 annual conference is "Asia Winning in
Today's Global Economy - Innovation and Sustainable
Development".
"It is our shared vision of a peaceful, secure and bountiful
world that compels us to interact, cooperate and achieve more and
more," he said.
This year sees the sixth BFA conference, Ramos says, and its
principal tasks are to give Asian countries a stronger voice in the
world and to strengthen economic, cultural and political ties
between Asia and the rest of the world.
The BFA should also facilitate effective discussions among
policy-makers in government, enterprise and academia, enabling
Asian leaders to face the world with more coherence, he said.
The BFA annual conference ends on Sunday.
(Xinhua News Agency April 20, 2007)