Asian regional cooperation injects stability into global economy: Boao Forum participants

Asia plays a pivotal role in driving global economic growth, spearheading the transformation of the world economy, according to the 2026 Report on Sustainable Development of Asia and the World released at the Boao Forum for Asia 2026.

As unilateralism and protectionism run rampant, and the international rules and order suffer as a result, how can trust be rebuilt?

Participants at the Boao Forum believe that Asian regional cooperation is of great significance and carries enormous potential. All stakeholders should strengthen confidence in cooperation, jointly tackle challenges, and inject stability into the global economy.

Mutual trust is a top priority in global governance nowadays, and we need to explore ways to improve regional cooperation mechanisms, said Djoomart Otorbaev, former prime minister of Kyrgyzstan.

Regarding global trade issues such as tariffs and inflation, Dániel Palotai, deputy governor of the Magyar Nemzeti Bank — the central bank of Hungary, stated that we must establish relationships based on common ground and mutual trust. 

China has proposed four global initiatives on how to deal with global crises. These are exactly what the world needs at present. China will help countries around the world enhance mutual understanding and work together to achieve common development, said Shahid Khaqan Abbasi, former prime minister of Pakistan.

The share of Asian economies' GDP in the global economy will continue to rise, said the 2026 Annual Report on Asia's Economic Outlook and Integration Process by the Boao Forum for Asia. Measured by purchasing power parity, it is projected to increase from 49.2% in 2025 to 49.7% in 2026, and Asia will remain the major engine of global economic growth, according to this report.

Citing these figures, Yose Rizal Damuri, the executive director of the Centre for Strategic and International Studies in Indonesia, said Asia is a major source of global trade demand and commodity supply, and a key driving force behind the global economy's advancement, People's Daily reported.

With the conclusion of the 2026 edition, many participants stated the belief that the Boao Forum for Asia is indispensable in the current process of global transformation, providing a platform for building a community with a shared future for mankind and jointly creating a better future for Asia and the world.

(Cover via VCG)