Chart clear roadmap for shared prosperity in Asia, says Yunus in Baoa

Chief Advisor Muhammad Yunus has called on the Asian countries to chart a clear path towards a shared future and prosperity.

Yunus addressed the Baoa Forum for Asia (BFA) conference in Hainan on his four-day state visit to China on Thursday, according to a statement by the Chief Advisor’s Office.

"In this changing world, the fates of Asian countries are intertwined. We must chart a clear roadmap for a shared future and shared prosperity," he said.

On financial cooperation, he pointed out that Asia must create a sustainable financing mechanism and regional Multilateral Development Banks (MDB) while similar institutions should lead this effort.

"We need reliable funds that address our challenges and meet our growing demands," he said.

Yunus also mentioned that Asia had been one of the least integrated regions in terms of trade cooperation, stifling investment and trade.

“We must work to boost trade cooperation immediately,” he noted.

Yunus urged Asian countries to promote resource-efficient farming and enhance domestic production to ensure food security.

"We need to reduce import reliance and achieve self-sufficiency. Expanding tech-based sustainable agricultural solutions and innovation in regenerative and climate-smart farming is key," he said.

He stressed that a strong tech ecosystem, which should be restorative, distributive and inclusive, must be built within Asia.

"We need to share knowledge and data and invest in technology incubation and innovation. Collaboration on digital solutions will drive progress."

Yunus also spoke about “mobilising intellectual resources” and underlined keeping “youth power” at the centre of collective actions.

"We must lay the foundations for a new civilisation: a self-preserving and self-reinforcing society. We must create a counter-culture based on a zero-waste lifestyle.

“Consumption should be limited to essential needs. Our economy should focus on social business, which is increasingly regarded as to chart the future of business; where innovation, purpose, and responsibility converge," he added.

Yunus said young individuals should adopt a three-zero policy: zero net carbon emissions, zero wealth concentration, and zero unemployment through entrepreneurship in social business.

"This is the shared future we in Asia must create together," he said.