At the 2013 BFA, more than 50 panel discussions will be held to offer suggestions on the common development in Asia, organizers said.

Highlights of this year's forum includes a newly set up Africa panel and Latin America panel.

President of the Republic of Zambia, Michael Chilufya Sata, Mexican president Enrique Pena Nieto and Peru's president Ollanta Humala will share experiences on transformation and innovation, and also reflect on development paths of their own.

"The setup of those panels is an innovation in this year's forum as it reflects the trend of globalization and the common ground on which developing countries should work together to seek development," said Zhang Xiaokang, a high-profile official with Asia Europe Meeting, an inter-regional forum.

The Boao forum will also cover topics concerning people's daily life such as property, Internet, health and urbanization, to name a few.

Chinese President Xi Jinping will deliver a keynote speech at the opening ceremony of the forum.

A non-governmental and non-profit international organization founded in 2001, the BFA works to promote regional economic integration and bring Asian countries closer to their development goals.

Special Coverage: Forum focuses on restructuring