Global forum on free trade ports explores new opportunities for Hainan's special customs

The Global Free Trade Ports Development Forum was held on Tuesday afternoon, focusing on new opportunities for Hainan's opening-up following the implementation of special customs operations.

The forum is one of Hainan's key thematic events under the plenary of the Boao Forum for Asia Annual Conference 2026.

Co-hosted by the Boao Forum for Asia Secretariat and the Hainan Provincial People's Government, this was the first time the forum was held since Hainan's special customs operations began, allowing freer entry of overseas goods and expanding zero-tariff coverage.

Held under the theme "Free Trade Ports: Opportunities and Missions as Gateways for Opening-Up", it attracted participants from more than 20 countries and regions, including representatives from over 10 overseas free trade zones and ports.

Attendees included government officials, representatives from international organizations, leading experts and scholars, and executives from multinational companies.

George Yong-Boon Yeo, former Foreign Minister of Singapore, offered his own bold proposal that he said could facilitate the Hainan Free Trade Port's future development.

"Hainan should be able to develop its own free trade agreements, let us say, with Singapore in services and this will encourage movement between Singapore and Hainan, a little extended to other ASEAN countries as well. I think if we have the right conditions, business people will look for the opportunities," said the former official.

Against the backdrop of shifting global geopolitical dynamics and a push toward higher-standard opening-up, the forum focused on three key areas: the role and function of free trade ports as gateways for opening-up; the strategies and pathways to better fulfill this role amid a changing global landscape; and economic and trade cooperation, along with functional connectivity, among free trade ports.

"What's happening also with your port infrastructures and all the efforts that your regional government has been doing in the last year - so it was quite evident to us that in this decision to open ourselves to other places in the world, Hainan could be a nice opportunity to us. And this is why we are back," said Jaume Duch Guillot, regional minister for the European Union and External Action in Spain's Generalitat de Catalunya.

"I think it's so important that we do trade with each other that we integrate each other in each community, in society and economy. That's why I need to come here in order to get contacts, to bring my businesses to China, but also definitely to help Chinese businesses integrating themselves in the European part," said Holger Bingmann, Deputy Secretary General of the International Chamber of Commerce.

Hainan Province last year introduced an action plan to promote high-quality development of air logistics in the region, aiming to accelerate opening-up, expand global cargo networks, and enhance the Hainan Free Trade Port's role as an international air cargo hub.

The plan supports Hainan in developing "two bases" (one for Chinese enterprises expanding globally and another for foreign firms entering China), and "two hubs" (an international shipping hub for the New Western Land-Sea Corridor and a regional aviation gateway to the Pacific and Indian Oceans).

Cai Qiang, Secretary-General of the Hainan Provincial People's Government, said that the Hainan Free Trade Port will continue to play a key role in this regard.

"Hainan, in the current environment, as a landmark initiative to promote an open world economy and demonstrate China's commitment to further opening-up, will play a key role in the 'two hubs and two bases', and continue to push for high-standard opening-up," said Cai.

With the forum serving as a bridge and openness as a driving force, the Hainan Free Trade Port is aiming to accelerate its integration with the global economy.

Global forum on free trade ports explores new opportunities for Hainan's special customs

Global forum on free trade ports explores new opportunities for Hainan's special customs

Slovenia has become the first European Union member state to bring in fuel rationing as a way of managing disruption to supply caused by the conflict in the Middle East.

Under the new measure, customers with private vehicles will be restricted to 50 liters per day with a 200-liter limit for companies and other special cases such as farmers. The government had already begun releasing strategic reserves in an effort to stabilize the market.

Across the country, long queues have formed at petrol stations, with some locations reporting limited availability of diesel. Notices warning customers about shortages have become increasingly common, reflecting the strain on supply chains.

Despite the visible pressure, many drivers said they are not engaging in panic buying.

"I think that's nonsense. Even if the price goes up ten cents it is not a disaster," said Robert, a motorcyclist.

Others, however, expressed concern over how the situation has been handled.

"I wish they would have released fuel reserves sooner and bought more reserves of the fuel for which we knew a month ago there was going to be difficulties," said Severin, a car driver.

Even with the release of strategic fuel reserves, logistical challenges remain a key issue. Many distributors store fuel outside the country, and transport capacity has struggled to keep pace with the recent spike in demand.

Analysts said consumption has increased sharply, driven in part by behavior linked to previous crises.

"They still remember 2022, when the prices were higher for a longer period of time, so they are hoarding the gasoline if they can. They're buying as much as they can, and I think that's the main reason," said Karel Lipnik, a financial analyst at Delo, a national daily newspaper in Slovenia.

Cross-border demand is also contributing to the strain. Slovenia's relatively low fuel prices compared to neighboring countries have attracted foreign buyers, further increasing consumption.

"Slovenia has the lowest price within all the neighboring countries, and it's also spring, so a lot of farmers buy gasoline to do some farming on the fields," Lipnik said.

While fuel prices in Slovenia remain state-regulated, the impact of global market disruptions is becoming increasingly evident. Analysts warned that the period of stable and relatively low fuel prices may be coming to an end, as external shocks continue to influence supply and demand.

Slovenia caps fuel purchases amid energy shortage