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China's top legislator Wu Bangguo attended the opening ceremony and delivered a keynote speech.
Wu spoke highly of the BFA and showed confidence that the forum will grow into an important regional platform of dialogue for promoting business cooperation and common development in Asia.
Asia's gross domestic products (GDP) grew by over 6 percent annually in the past seven years, contributing to 20 percent of the world economic growth. Asia's economy, trade and foreign exchange reserves respectively takes up one fourth, one third and three fourths of the world's total, said Wu, chairman of the Standing Committee of the National People's Congress, China's top legislative body.
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Sustained development in individual Asian countries has led to increasingly closer economic links within the region, expanding common interests and heightened awareness of the Asian identity, he said, adding that development and cooperation in Asia are enjoying unprecedented momentum.
Wu summarized five shared values of Asian countries and regions in promoting peaceful development, saying that they are precious assets which should be enriched and carried forward in development endeavors.
The five values are to maintain peace in Asia, enhance regional cooperation, accelerate scientific and technological innovations, conserve resources and protect the environment and promote harmony in Asia.
Peace is essential for Asia's development, said Wu, calling for Asian nations to accommodate each other's interest and concerns, properly handle issues left over from history and current problems and work together to maintain security and stability in Asia.
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With the world moving closer to multipolarization and economic globalization gaining momentum, regional cooperation in Asia will be steadily enhanced, said the top legislator of China.
Despite the strong will of Asian nations in regional integration, the future for an integrated Asia remained obscure, said Long Yongtu, secretary-general of the BFA. He predicted that at least 50 more years are needed to achieve that goal.
Asia still lacks a mechanism of cooperation covering the whole region and that's why the BFA would hopefully add two seats in its board respectively for the Middle East or West Asian nations.
East Asia is currently the most active subregion in regional economic cooperation, but South Asia, Central Asia and West Asia have been forgotten in the entire Asian regional cooperation process, said Long.
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Observers said Asian countries outside East Asia are hoping to see an arrangement connecting the whole of Asia, while Australia and New Zealand are making efforts to "join" Asia and take a positive approach to the Asian economic integration.
Against such a backdrop, according to Long, the Boao Forum for Asia, which is a dialogue channel for the whole Asia, wishes to play its unique role to fill in the vacuum.
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