More than 200 politicians, policymakers and business executives met to discuss opportunities and challenges facing Asia and the world in the 2016 Singapore Forum.

Themed “Asia and the World – Shared Opportunity, Shared Prosperity”, the two-day forum, opened on April 1, promoted practical dialogues and meaningful discussions.

Participants also discussed slower trade and economic growth, rising income inequality and changing demographics as well as Asian countries’ strategic relations.

Part of Singapore (Photo:AFP)

Speaking at the opening ceremony, the host country’s Deputy Prime Minister Tharman Shanmugaratnam said that significant slowdown in productivity growth is a challenge globally.

Shanmugaratnam, also Singaporean Coordinating Minister for Economic and Social Policies, said that there is a need to boost deeper cooperation between governments and industries in order to solve the problem.

Meanwhile, Chairman of the Singapore Forum Advisory Board Wong Kan Seng said that there is a need to heighten appreciation of the challenges that may affect Asia’s growth trajectory and promote greater cooperation and strengthen the foundations for inclusive and sustainable growth in the region and the world.

Organised for the first time in 2015, the Singapore Forum focuses on discussions covering geo-strategic, political, economical and governance issues that have an impact on regional development and stability.

(Source: VNA)