BOAO /China/, March 27. /TASS Correspondent Nikolai Selishev/. The Boao Forum for Asia (BFA) has a unique value as it allows effective strengthening of international trade and economic relations not only on regional but also on global scale. Shanghai Cooperation Organization (SCO) Secretary-General Zhang Ming told TASS on Monday.

"The Boao Forum for Asia is a unique platform for exchanging experience, knowledge and best practices in strengthening trade and economic relations both in the Asian region and globally," he said on the eve of the BFA, which will be held in the eastern part of Hainan province.

According to the head of the SCO, the forum has established itself as "an authoritative platform that contributes to strengthening cooperation between countries and various regional organizations." Zhang Ming pointed out that the BFA has played an important role in building consensus among various stakeholders and deepening multilateral cooperation, contributing to overall development and addressing both regional and global challenges.

The Secretary-General clarified that the consistent promotion of interaction between the SCO and the Boao Forum of Asia is "an important factor for the formation of a fair and mutually beneficial regional financial-investment and trade-economic landscape."

The BFA has been regularly held since 2001 and has about 30 participating countries (Asia-Pacific states). It was not held in 2020 because of the pandemic, but in 2021 and 2022 it was organized in an in-person format, and this time it will be held on March 28-31. The Boao Forum for Asia is called the Eastern Davos; it is a major platform for the signing of major agreements, coordination of positions between representatives of business and government circles of Asian countries and all other regions of the world. Chinese authorities pay great attention to its development and view this mechanism as an effective instrument of soft diplomacy, which promotes and strengthens Beijing's international contacts.