CA urges Asian countries to chart clear roadmap for shared prosperity

Chief Adviser Professor Muhammad Yunus today (27 March) asked the Asian countries to chart a clear roadmap for a shared future and prosperity.

"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 while addressing Boao Forum for Asia (BFA) conference in Hainan.

About financial cooperation, the chief adviser said Asia must create a sustainable financing mechanism and regional Multilateral Development Banks (MDB) and similar institutions should lead this effort.

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

Regarding trade cooperation, he said Asia remains one of the least integrated regions. This weak integration stifles investment and trade. We must work to boost trade cooperation immediately, he noted.

About food and agriculture cooperation, Prof Yunus said the Asian countries must promote resource-efficient farming and domestic production must be enhanced for 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.

The chief adviser said Asia must build a strong tech ecosystem, which should be restorative, distributive and inclusive.

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

Finally, he said, mobilising intellectual resources and youth power must be at the centre of our collective actions.

"We must lay the foundation for a new civilization: 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," the chief adviser said.

"Our civilization is at risk as we continue to embrace self-destructive economic values. The dominant economic model thrives on limitless consumption. It justifies the over-extraction of resources and environmental degradation in the name of growth. We must shift toward sustainable economic models that prioritize people and the planet over profits," he said. 

Boao Forum and other similar initiatives in Asia should enhance collaboration of youth and entrepreneurs to make Asia a better place for our generations to come, he added.

The chief adviser said every young person should grow up as a three-zero person: 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.