Chinese President Xi Jinping said that Belt and Road Initiatives (BRI) may be China’s idea but its opportunities and outcomes are going to benefit the world. “China has no geopolitical calculations, seeks no exclusionary blocs and imposes no business deals on others,” said the President in his keynote speech, addressing the delegates of Boao Forum on Tuesday.

The Boao Forum for Asia Annual Conference 2018 kicked off in Boao, a town in China's picturesque Hainan province, and is themed "An Open and Innovative Asia for a World of Greater Prosperity."

Xi made such remarks amid speculations that BRI project pushes recipient countries into debt trap, refrains from technology transfer and do not align with the sustainability goal of environment.

Stressing that Boao forums have produced many valuable ‘Boao proposals’ since its inception, President Xi said that such proposals have helped in building cooperation in Asia, encouraging economic globalization and finally striding towards the building of community with a shared future for mankind.

Calling for unity among Asian countries’ governments, business community, intellectuals and opinion makers, Xi said: “We have no choice but to pursue integrated connectivity to promote common prosperity.”

Xi spent his considerable time saying that Asian countries should stay connected to enhance the regional economy. He said Asian nations should promote dialogues and shared responsibility with the future in mind.

Calling for trade and economic liberalisation among Asian countries, Xi said that China will open up even wider because opening up was the key to China’s rapid growth over the past 40 years.

Speaking on the occasion, Prime Minister of Pakistan Shahid Khaqan Abbasi said that Asia seems to display a growing centrality in world’s trade volume. He shared that numerous benefits could be derived through connectivity and collaboration and called on all the Asian countries to follow the suit.

Furthermore, UN Secretary-General António Guterres said the agenda of this forum reflects the optimism within Asia with dynamic economy in the world. “It has been deeply convinced in the world that the globalization is irreversible but our destination must be fair globalization,” he said, calling the parties concerned to refrain from making harmful trade practices such as isolation and protectionism.

Established in 2001, the Boao Forum for Asia is a forum committed to promoting regional economic integration and bringing Asian countries closer to their development goals. The purpose of BFA is to base itself on Asia and promote and deepen the economic exchange and cooperation within Asia and between Asia and other parts of the world. BFA is intended to discuss the process that would move globalization forward. It envisions that Asia and the world need to be open and interconnected through broad consensus.

Although Nepal’s Prime Minister KP Oli attended the Forum in 2016, he could not make it to the BFA this time. In 2017, then Prime Minister Pushpa Kamal Dahal had participated in the annual session.

Meanwhile, former United Nations Secretary-General Ban Ki-moon was elected the chairman of BFA on Monday.