Focusing on the future of Asian economies in the midst of growing globalization, the Boao Forum for Asia, begins Friday on this South China island.

The forum will allow Asian nations and regions to enhance cooperation and help each other recover from an ailing economy.

This year's theme is ``New Century, New Asia, New Challenge: Asian Regional Development and Co-operation.''

"High-profile talks between top government officials, heads of business and experts from academic circles will all take place, showing that regional cooperation is accelerating," said Yao Wang, executive director of the organizing committee for the forum.

More than 2,000 representatives from 48 countries and regions will attend, he said.

Notable guests include Premier Zhu Rongji, Japanese Prime Minister Junichiro Koizumi, Thailand Prime Minister Thaksin Shinawatra and South Korean Prime Minister Lee Han-dong.

Tung Chee-hwa, Chief Executive of Hong Kong Special Administrative Region (SAR) and Edmund Ho Hau-wah, Chief Executive of Macao SAR has also led their delegations to the event.

A business delegation from Taiwan will also be in attendance, Yao added.

Regional economic cooperation, trade liberalization, and China's economic policies and development after its entry into the World Trade Organization (WTO) will be three major topics during the two-day event, he said.

Thursday, 11 members of the forum's board of directors were newly elected during a general meeting of Members. Former Filipino Prime Minister Fidel Ramos was selected as chairman of the forum, and Zhang Xiang, acting secretary-general for the forum, was designated secretary general.

``The effect of China's WTO entry is not only significant for the nation, but also to the whole region,'' former Australian Prime Minister Bob Hawke said during the meeting. He is now vice chairman of the forum.

He believes that the more countries and regions meet and discuss common issues, the more likely sensible policies can be worked out to benefit all.

The forum is also planning on hiring a director of its Asia Research Institute, which will operate as a think-tank for the forum after its annual conference.

Members decided at last year's meeting to establish the institute, which will also provide first-hand information about regional development and cover issues such as economy, trade, business and finance.

(China Daily April 12, 2002)