Original article courtesy of Global Times and China.org.cn

The Philippines hosted on Monday the Boao Forum for Asia (BFA) Manila Conference that aims to further strengthen regional cooperation in Asia through the Belt and Road Initiative (BRI).

Li Baodong, secretary general of the BFA, said the conference was the first-ever event held in the Philippines by the BFA, though the forum has been linked with the Philippines from the very beginning.

China, the host country of the forum, and the Philippines have seen increasingly close economic and trade ties in recent years, said Li.

“We hope that this conference can produce pragmatic results and play an active role in promoting exchanges and cooperation between the Philippines and China and other countries,” Li added.

The two-day high-level regional business leaders conference brings together more than 500 delegates from Asian countries to Manila to talk about BRI and common development in Asia.

Philippine Executive Secretary Salvador Medialdea, who represented President Rodrigo Duterte, said the conference is in preparation for the second Belt and Road Forum for International Cooperation in Beijing later this week.

“The Philippines is hopeful that as we bring the BFA in Manila we can further build on previous discussions with our partners who we may forge deeper consensus as we strengthen regional cooperation through the Belt and Road Initiative,” Mediadea said.

“The BFA has become instrumental in charting the course of the Philippine economy in this era of globalization and regional integration,” Medialdea said.

The theme of BFA Manila Conference is Concerted Action for Common Development in the New Era.

Founded in 2001, the BFA is a non-governmental and non-profit international organization committed to promoting regional economic integration and bringing Asian countries and regions closer to their development goals.