On August 20, the Ulaanbaatar Conference of BFA held the Opening & Plenary. BFA Secretary-General Li Baodong and Mongolian Minister for Foreign Affairs Damdin Tsogtbaatar delivered opening remarks. Mongolian Prime Minister Ukhnaagiin KHURELSUKH and BFA Chairman Ban Ki-moon delivered keynote speeches. Xing Haiming, Chinese Ambassador to Mongolia, Punsalmaagiin Ochirbat, former President of Mongolia, Dolgorsürengiin Sumiyabazar, Minister of Mining and Heavy Industry of Mongolia, Khurelbaatar Bulgantuya, Vice Minister of Finance of Mongolia, Tudevkhuu Gantulga, Vice Minister of Energy of Mongolia, Sainbuyan Amarsaikhan, Mayor of Ulaanbaatar, Armida Salsiah Alisjahbana, Under-Secretary-General of the UN and Executive Secretary of the UN ESCAP, Meng Xiaosu, Entrepreneur Vice-President, China International Council for the Promotion of Multinational Corporations (CICPMC), Wang Tongzhou, Chairman of China Nonferrous Metal Mining Group, and other guests attended the opening ceremony. There were more than 300 participants including political, business and academic leaders as well as representatives of international organizations from nearly 10 countries including China, Mongolia, South Korea and Pakistan.

Secretary-General Li said that BFA is committed to promoting and deepening regional and global economic exchanges and cooperation, and to accelerating Asian economic integration. Currently, as unilateralism and protectionism are increasingly impacting the international rules and order and slowing down the global economy, the international community is more required to uphold and advocate multilateralism than ever before. Asia is the most economically active part of the world, but it is also a region characterized by unbalanced development and many high-profile sensitive issues. Cooperation and development of Asian countries are vital to regional stability and prosperity. After BFA called for maintaining multilateralism and free trade at its Annual Conference, it has also ventured into, at the invitation of the Mongolian government, the hinterland of Asia to build a new open and inclusive platform for win-win cooperation, and help Mongolia develop its economy by leveraging its own superior resources. BFA is committed to promoting free trade and multilateral cooperation for common development and prosperity. The Ulaanbaatar Conference was held around the same theme of “Concerted Action for Common Development in the New Era”, the overarching theme of BFA’s overseas conferences. The attendees will have an opportunity to share insights through several sessions, “Business Opportunities: Investment Climate in Mongolia”, “Business Leaders Dialogue Face-to-Face” and other events, with a view to unlocking the investment and cooperation potential, and promoting bilateral pragmatic cooperation.

Mr. Tsogtbaatar said that BFA was initiated by some Asian leaders two decades ago to create a platform for dialogue and cooperation. With ever-expanding influence in recent years, BFA has been playing an increasingly important role in promoting regional and global cooperation. Now the Annual Conference of BFA has become a grand event bringing together political, business and academic leaders in the world, playing a positive role in promoting global economic cooperation and inclusive growth. Leveraging this conference in its capital city, Mongolia seeks to strengthen relations with China and other Asian countries, broaden the channels of economic cooperation, and achieve open and win-win cooperation.

In his keynote speech, Prime Minister Khurelsukh said that the Ulaanbaatar Conference, with a theme at the forefront of the development trend, is held to send a positive message to the world, calling on the international community to strengthen communication and coordination on a global scale to meet the challenges together. Mongolia is committed to maintaining friendly relations with its neighbors and deepening relations with various countries and international organizations. It hopes to align its “Development Road” strategy with China’s “Belt and Road” initiative, and strengthen infrastructure construction to contribute to regional development. At present, the Mongolian economy is growing rapidly and its development momentum remains stable. Mining is the top priority for its economy. By bringing together economic policymakers and implementers, the conference aims to attract more international institutions and enterprises to participate in Mongolia’s infrastructure construction, invest in energy and environmental projects, and provide assistance for the country’s economic development.

Mr. Ban praised Mongolia’s economic performance in his keynote speech, noting that Mongolia has made a positive impact on regional development by keeping a relatively high economic growth rate, improving infrastructure construction, and developing the China-Mongolia-Russia Economic Corridor to enhance Mongolia’s competitiveness. Under the leadership of the current Board of Directors, BFA adheres to one running theme of economic development, while expanding into five focal areas including technology innovation, health, education, culture and media. It stands ready to help Mongolia achieve inclusive and sustainable growth, and promote cooperation between emerging Asian economies and other countries and regions. Currently, the world is challenged by the prevailing protectionism and unilateralism, and the development gap and deficit still exist. We must adhere to multilateralism and protect globalization for mutual benefit and common development.

Ms. Alisjahbana, Mr. Meng and Mr. Wang also spoke from the viewpoint of international organization, association and enterprise to offer suggestions on the development of Mongolia and the region.