Kassym-Jomart Tokayev participated in the inaugural ceremony of the plenary session of the Boao Asian Forum (BAF), convened annually in the Chinese province of Hainan. This year, the 23rd forum is being held under the motto “Asia and the world: common challenges, common responsibility.”
The President of Kazakhstan spoke at the forum as an honorary guest.
Welcoming the participants of the event, the Head of our state noted the important role of this platform as a center for dialogue and international cooperation against the background of unprecedented global uncertainty, fueled by geopolitical turbulence and economic turmoil.
– By the middle of the decade, it is becoming increasingly clear that global GDP growth will be the lowest in 30 years. One of the serious challenges facing the global economy continues to be tension in trade relations between leading countries. Protectionist policies and escalating trade disputes are disrupting global supply chains, holding back economic growth and eroding investor confidence. It is obvious that the global economy needs new development paradigms. Failure to solve this problem could result in missed opportunities in the next decade, noted Kassym-Jomart Tokayev.
As the Head of State emphasized, in this regard, Asia is leading the way to a new era of sustainable development
– Asia is expected to account for 60% of global GDP growth this year. The continent accounts for 53% of global trade and is home to some of the world’s largest and most dynamic economies. Foreign direct investment in Asia has increased significantly in recent years. This region is also home to the world’s leading technology centers, accounting for 70% of patent development. The continent has significant human resources, with 21 of the world’s 30 largest cities located in Asia. Of the expected $30 trillion in growth in middle class consumption by 2030, only $1 trillion is expected to come from Western economies. Taken together, all these factors point to the so-called “Asian Renaissance,” said the leader of Kazakhstan.
The Head of State noted that the Asian region has good potential to continue to stimulate global growth and development in the coming years.
“In this regard, the Boao Forum has become the embodiment of the Asian innovative approach to achieving universal economic progress. It has also established itself as an exceptional symbol of China’s commitment to global development,” the President of Kazakhstan emphasized.
According to the Head of the Republic of Kazakhstan, today Kazakh-Chinese relations represent a model of effective partnership, within the framework of which our country has become China’s main trade and economic partner in Central Asia.
– Kazakhstan accounts for half of Chinese trade and investment in the region. Last year, trade turnover between Kazakhstan and China reached a historical record of 41 billion US dollars. In 2023, the volume of cargo transportation between our countries increased by 22%, amounting to almost 30 million tons. The grandiose mega-project “One Belt, One Road” was first presented during the visit of Chinese President Xi Jinping to Kazakhstan more than ten years ago. The project serves as a key bridge between East and West, with Kazakhstan carrying 80% of all land transport between China and Europe. This is a critical advantage that we must take full advantage of. Our own investments are strategically linked to the One Belt, One Road initiative and are aimed at creating a modern multimodal, environmentally friendly and sustainable infrastructure,” said Kassym-Jomart Tokayev.
Particular attention in the speech was paid to the new economic course of our country.
– Last year, our country’s economic growth was 5.1%, which is almost twice the predicted growth rate of the world economy. Over the medium term, we aim to maintain growth of at least 6% and double the size of our economy by 2029. To achieve this goal, I proclaimed a new economic course. This initiative aims to implement structural reforms to build a stronger and more dynamic country. Kazakhstan’s open-door policy, vast resources and liberal market reforms have attracted many foreign companies, including Chinese ones. In this regard, we invite Asian partners to invest in our economy and thereby open new paths for mutually beneficial cooperation,” suggested the Head of State.
The President of the Republic of Kazakhstan believes that measures to improve the fiscal and monetary system, expand financial flows and improve the quality of institutions will contribute to the formation of a market and competitive economy, making it more transparent, reliable and dynamic.
However, as the Head of Kazakhstan noted, achieving this goal and simultaneously confronting modern global challenges requires combining efforts. In this regard, the leader of Kazakhstan outlined several urgent tasks, for the implementation of which the entire world community must unite.
As the President emphasized, the world needs a new multilateral trading system based on the principles of fairness and openness.
– Today, growing trade barriers, protectionism and violation of treaties create serious challenges for the global economy. Solving these problems requires eliminating unfair trade barriers and increasing the transparency of supply chains through digitalization, says Kassym-Jomart Tokayev.
He believes that new approaches should be applied to the global financial system. As was said in the speech, the focus here should be equal opportunities for all countries, and not the benefit of only a select few. The leader of Kazakhstan called on the international community to take more effective measures in the field of sustainable financing.
– The huge Asian bond market with its colossal market capitalization has high potential to support many development projects. The Eurasian Development Bank plans to carry out the first issue of panda bonds as a new financial investment instrument. It can become critical for financing global infrastructure projects,” the Head of State noted.
The Head of State dwelled on the food security situation
– Almost a third of the world’s population still experiences food shortages. Kazakhstan, a leading wheat producer in Central Asia, intends to use its agricultural potential to ensure global food stability. With common efforts, we must strengthen international cooperation by creating targeted programs, joint agroinnovation centers and the transfer of innovative technologies,” the President proposed.
Kassym-Jomart Tokayev also pointed out the strategic importance of expanding transit and transport cooperation between Asian countries.
“It is extremely important to increase our efforts to develop both existing and new transport routes. These include the Trans-Caspian International Transport Route, or the so-called “Middle Corridor”, which most effectively secures supply chains between Asia and Europe. Last year, the volume of cargo transportation on this route doubled and amounted to 3 million tons. In the coming years, we expect this figure to reach 10 million tons. At the same time, Kazakhstan is ready to cooperate with its neighbors in the development of the North-South corridor,” said the Head of State.
The leader of Kazakhstan considers it important to strengthen technological cooperation, especially in the field of artificial intelligence (AI) in order to ensure sustainable growth of the global economy. In this context, he supported the “Global Initiative on Artificial Intelligence Governance” launched by China.
Kassym-Jomart Tokayev announced Kazakhstan’s interest in cooperation with leading Asian technology giants in order to implement joint innovative IT projects.
The President named the extraction of critical types of raw materials as another promising area of cooperation.
– Rare earth metals have become a critical component for a wide range of technologies. They are needed to achieve net-zero emissions and in strategic sectors such as industry, digital technology, space and defence. “We continue to work with international partners on the most effective ways to develop our large deposits of uranium, lithium, titanium and other rare earth elements,” said the leader of Kazakhstan.
In conclusion, the Head of our state again expressed confidence that Asia, realizing its economic, technological and cultural advantages, can play a decisive role in determining the future picture of the world. In this context, he noted the practical perspective of such important international dialogue platforms as the Boao Asian Forum and the Astana International Forum (AIF). Taking the opportunity, the President invited BAF guests to take part in the upcoming AIF forum in June this year.
Chairman of the Board of Directors of the BAF Ban Ki-moon and Chairman of the Standing Committee of the National People’s Congress Zhao also spoke at the Boao Asian Forum Laji, President of Nauru David Adang, Prime Minister of Sri Lanka Dinesh Gunawardena, Prime Minister of the Commonwealth of Dominica Roosevelt Skerrit, Chairperson of the international non-governmental organization “Council of Elders” Mary Robinson, OECD Secretary General Mathias Cormann , Director General of the World Intellectual Property Organization Daren Tang and Chairman of the People’s Party of the Kingdom of Cambodia Hun Sen.
Source: https :// www . Akorda . kz
Translated version
