Latest news with #BoaoForumforAsiaAnnualConference2025
Express Tribune
26-03-2025
- Business
- Express Tribune
FinMin stresses inclusive, equitable globalisation
Listen to article Minister for Finance Muhammad Aurangzeb has called for inclusive and equitable globalisation to ensure that its benefits reach developing economies of the world. There is an "urgent need for inclusive approach, one that benefits all nations, particularly the developing economies," he said, according to a statement issued on Wednesday. He made the call while attending a high-level session titled "Inclusive Globalisation That Benefits All – Pathways and Actions" at the Boao Forum for Asia Annual Conference 2025, held in Boao, Hainan province, China. Highlighting the growing inequalities within the global economic system, the finance minister stated that while globalisation had lifted over one billion people out of poverty, it remained fundamentally unequal, which disproportionately benefited developed economies while marginalising the Global South. He said the risks of rising protectionism, unilateralism and trade wars were exacerbating global divisions, threatening to disrupt supply chains and weakening international cooperation. "For globalisation to survive, it must be rebalanced to allow fairer participation for all nations, particularly those currently disadvantaged by restrictive trade rules and limited financial access," he said. Aurangzeb underscored that the time for rhetoric had passed and decisive action was needed. Pakistan, like many developing nations, advocates for a more balanced model of globalisation – one that promotes fair trade, sustainable growth and equitable financial systems. He stressed that the model must be multilateral, innovation-driven and inclusive to foster development and prosperity across all regions. One of the key challenges facing inclusive globalisation is the widening wealth and opportunity gap. The minister said that developed nations continued to gain from hi-tech sectors, digital trade and broad financial access while developing nations were held back by high tariffs, restrictive investment policies and limited infrastructure. In response, Pakistan has consistently called for greater regional connectivity, fairer market access and stronger multilateral cooperation, citing initiatives like the China-Pakistan Economic Corridor (CPEC) and the Special Investment Facilitation Council (SIFC) as steps in the right direction. The minister also called for a global coalition among developing nations to collectively demand fairer trade rules and greater representation in international financial institutions. These alliances are necessary to combat disproportionate tariffs and trade restrictions that hinder the integration of developing economies into global markets. He pointed out that Pakistan's textile and agricultural sectors – the key drivers of its economy – faced significant challenges due to protectionist policies in developed countries and non-tariff barriers that limited their access to western markets. Addressing the issue of financial inequality, Aurangzeb stressed the need for debt relief and financial justice through restructuring sovereign debt mechanisms to prevent cyclical debt crises.
Arab News
26-03-2025
- Business
- Arab News
Pakistani finance chief calls for coalition of developing nations to push for fair trade, financial reform
ISLAMABAD: Federal Minister for Finance and Revenue Muhammad Aurangzeb has proposed the formation of a global coalition of developing nations to collectively advocate for fair trade and better representation in international financial institutions, while criticizing the global economy as unequal, according to an official statement issued on Wednesday. The finance chief made these remarks during his address at the Boao Forum for Asia Annual Conference 2025, held in China. The forum, often referred to as the 'Asian Davos,' is a high-level platform where leaders from government, business and academia across Asia and other continents gather to discuss pressing global and regional issues, with this year's conference — titled 'Asia in the Changing World: Towards a Shared Future' — running from March 25 to 28. 'Developing countries must unite to demand fair trade principles and improved representation in global financial institutions,' Aurangzeb said, according to a finance ministry statement, as they asked them to form a global coalition. He said globalization's had led to general progress, but its benefits remained unevenly distributed. 'The global economy has undoubtedly driven economic growth,' Aurangzeb said, according to a statement released by Pakistan's finance ministry. 'However, it remains highly unequal and fragmented.' 'Such an economy primarily benefits developed nations, while countries in the Global South are often overlooked,' he added. Highlighting the structural challenges faced by developing nations, Aurangzeb pointed to high tariffs, discriminatory trade practices and barriers to market access that limit their ability to participate fully in the global economy. He also stressed the urgency of reforming the global sovereign debt system, urging multilateral institutions such as the G20 and the IMF to play a more constructive role in debt relief and financial justice. 'The G20 and IMF must reform the sovereign debt system to enable debt forgiveness and ensure financial fairness,' he said. Calling for inclusive and sustainable growth, Aurangzeb advocated for stronger multilateral cooperation to promote equitable market access, enhance regional connectivity, and build a global economy that works for all. 'An inclusive global economy is not a choice but a necessity,' he said. He also underscored the role of technology in closing the global equity gap, recommending the creation of international AI and fintech funds to support digital inclusion in developing countries. 'Technology should serve as a tool for equity,' he said. The finance minister further called for sustainability and environmental justice to be integrated into globalization policies. He stressed the need for increased climate financing and easier technology transfer to countries most vulnerable to the effects of climate change.
Yahoo
25-03-2025
- Business
- Yahoo
vivo Announces Robotics Lab and Showcases its First Mixed Reality Headset at the Boao Forum 2025
SHENZHEN, China, March 25, 2025 /CNW/ -- Today, the Boao Forum for Asia Annual Conference 2025 commenced in Boao, Hainan. As a strategic partner of the event for the fourth consecutive year and a new member of the Boao Forum for Asia Board of Directors, vivo showcased its cutting-edge innovations, including the Blue Technology Matrix (BlueImage, BlueLM, BlueOS, BlueChip, BlueVolt), vivo Vision (vivo MR headset), 6G advancements, and more. vivo's upcoming flagship imaging smartphone, the vivo X200 Ultra, was honored with the title of "Official Smartphone of Boao Forum for Asia". During the "vivo Release Moment" session held on the afternoon of March 25th at the Boao Forum, Hu Baishan, Executive Vice President, Chief Operating Officer at vivo, and President of the vivo Central Research Institute, delivered a keynote speech titled "Humanity in the Future of Technology by vivo". In his speech, Hu stated that the mobile phone industry is a microcosm of China's technological innovation, and vivo's development reflects the progress of this sector. Hu elaborated on the company's core business philosophies applied over the past three decades, highlighting three different dimensions: long-termism, humanistic thinking and focus on collaboration and mutual achievement. To date, vivo has been the number one domestic mobile phone brand in the Chinese market in terms of market share for four consecutive years, and serves over 500 million users in more than 60 countries and regions worldwide. Hu Baishan stated that over the past few decades, the mobile phone industry has served as an "incubator" for new industries, transforming how we live and work. Today, advancements in AI and robotics represent the pinnacle of technological achievements in the digital and physical worlds, respectively. Yet, these two worlds remain relatively independent and have not yet been perfectly integrated. The mobile phone industry with its massive consumer base, the most forward-looking technological ecosystem, and diverse application scenarios, could help bridge these two worlds. Robotics could represent the future of the mobile phone industry, blending digital connectivity with physical capabilities. Importantly, this future will continue to emphasize people-oriented values and focus on user scenarios to create ultimate experiences. In his speech, Hu revealed that vivo has officially established the vivo Robotics Lab. By leveraging vivo's decade of "BlueTech" experience in fields like AI large learning models and imaging, together with the real-time spatial computing capabilities accumulated through vivo Vision, vivo will focus on developing two core areas, the "brain" and "eyes" of robots. At the same time, vivo will focus on the consumer market, developing robotic products for personal and home use. vivo aims to bring technology out of the laboratory and into users' everyday lives. This way, it will focus on gradual breakthroughs and continuous innovation to address real-life scenarios and solve user pain points, iterating product development along the way. vivo Vision, unveiled for the first time at the Boao Forum, marks a significant milestone in vivo's exploration of mixed reality technology. Building on this momentum, the upcoming vivo X200 Ultra, slated for release next month, will also integrate vivo's latest advancements in imaging. Looking ahead, vivo envisions a world where robotics enhances everyday life and is committed to collaborating with industry partners to bring robots to households around the globe. About vivo vivo is a technology company that creates great products based on a design-driven value, with smart devices and intelligent services as its core. The company aims to build a bridge between humans and the digital world. Through unique creativity, vivo provides users with an increasingly convenient mobile and digital life. While bringing together and developing the best local talents to deliver excellence, vivo is supported by a network of R&D centers including Shenzhen, Dongguan, Nanjing, Beijing, Hangzhou, Shanghai and Xi'an, focusing on the development of state-of-the-art consumer technologies, including 5G, artificial intelligence, industrial design, photography and other up-and-coming technologies. vivo has also set up an intelligent manufacturing network (including those authorized by vivo), with an annual production capacity of nearly 200 million smartphones. As of now, vivo has branched out its sales network across more than 60 countries and regions, and is winning more than 500 million users worldwide with its superior products and services. Following the company's core values, which include Benfen*, user-orientation, design-driven value, continuous learning and team spirit. vivo has implemented a sustainable development strategy, with the vision of developing into a healthier, more sustainable world-class corporation. *"Benfen" is a term describing the attitude on doing the right things and doing things right – which is the ideal description of vivo's mission to create value for society. View original content to download multimedia: SOURCE vivo View original content to download multimedia:
