BFA Holds New Year Special Event for Members and Partners & Unveils the "Free Trade Agreements: Asia's Choice" Report

On the afternoon of January 14, 2021, the Boao Forum for Asia (BFA) New Year Special Event for Members and Partners, as well as the Release and Panel Discussion of the "Free Trade Agreements: Asia's Choice" report, was held in Beijing. BFA Vice Chairman Zhou Xiaochuan attended the event and delivered a keynote speech, and Secretary-General Li Baodong delivered a speech and officially released the report "Free Trade Agreements: Asia's Choice". Algerian Ambassador to China Ahcène Boukhelfa, IMF Senior Resident Representative in China, OECD Senior Advisor for China, experts from Tsinghua University, National University of Singapore, Centre for Strategic and International Studies (Indonesia), and other Asian academic institutions participated in the discussion. Over 100 attendees took part in this event, including foreign diplomats in China, officials of the BFA initial countries, BFA members and partners, and collaborative research institutions, as well as representatives from the media.

Zhou Xiaochuan pointed out in his keynote speech that several multilateral and bilateral trade agreements recently reached have become a beam of sunshine piercing the shadow of the pandemic, providing an expedient choice amid the disorder of the international trade system. He stressed that Asian economies should be promoted to participate in free trade agreements (FTAs) with a higher standard, wider scope, and greater coverage, and Asian practices could serve as a booster for WTO reform and the reshaping of multilateral trade rules. China has embraced and assisted the foundation of a free trade network across Asia that builds a firm basis for the economic and trade growth in Asia and the world.

The "Free Trade Agreements: Asia's Choice" report was jointly completed by BFA Academy, the Chinese Academy of International Trade and Economic Cooperation (CAITEC) of the Ministry of Commerce of China, the East Asian Institute (EAI) of the National University of Singapore, and the Centre for Strategic and International Studies (CSIS, Indonesia). The report systematically studies the major FTAs involving Asian economies, analyzes the impacts of FTAs on Asian economies, and puts forward relevant policy recommendations on facilitating the better implementation of FTAs in Asia and promoting regional economic integration.