Leaders from Asian nations pledged to cultivate the width and depth of regional economic co-operation Tuesday at the official launch ceremony of a new Asian-orientated, non-governmental forum.

Celebrating the birth of the Bo'ao Forum for Asia, Chinese President Jiang Zemin expressed China's full support for a "more prosperous Asia" through high-level, non-governmental dialogue and interaction.

"Asian countries, despite different national conditions, are faced with the common task of seizing the opportunity, standing up to the challenges of the new century and working for steady economic and social development," Jiang said.

The Bo'ao Forum for Asia, which many hope will develop into the Asian version of the Davos World Economic Forum, was created in an attempt to provide the opportunity for regular exchanges on Asian social and economic development.

Participants from 27 countries including Australia took part in Tuesday's inaugural ceremony.

The establishment of the forum occurs at a time when leaders from developing countries have started to question the assertion that globalization is a boon for all nations. They hope to push greater regional co-operation.

During a meeting with visiting King Birendra of Nepal, Jiang said the Bo'ao Forum for Asia will provide people interested in the development of Asia with an appropriate occasion to collect information, conduct exchanges and enhance co-operation.

"In light of the challenges and opportunities inherent in economic globalization, it is necessary for Asia to further expand and deepen economic co-operation," Vice-Premier Qian Qichen said in an address at Tuesday's ceremony.

"Regional economic co-operation helps countries to complement one another and it is conducive to effective allocation of resources, to more trade and mutual investment and to a greater ability to ward off risks and improve overall competitiveness."

Closer ties will also contribute to peace and development in the region, he added.

Qian said he hoped the forum will encourage people to study and look into changes and development in Asia from a long-term point of view.

He said China, as the permanent host of the forum, will become a nation with a more open market, more complete laws and regulations and a better environment for investment.

Nepal's King Birendra Bir Bikram Shah Dev was the first head of state to visit China in the new century. After the meeting, Jiang noted the king's visit was a reflection of the good, neighbourly relations between China and Nepal.

(China Daily 02/28/2001)