Good morning, National Delegates. I am honored to be speaking with you today about the future and what it holds for our industrial entities.

We are all privileged to be potential instigators of an innovative era attributed to our collaborative administrations. The smart city basically entails administration of technological cities within respective municipalities that are centralized on utilizing economic resources and discouraging dependency on certain industrial products such as oil.

Today, numerous nations are focusing on the development of innovative municipalities within their boundaries that rely on information and communication systems to foster and uphold economic efficiency. Major nations such as China, Japan, Singapore, and Malaysia are already exhibiting operational procedures towards the development of technologically-upgraded municipalities. Relatively, we are gathered here today to discuss the positive outcomes that might be attributed to our joint efforts in embracing the profound technological era.

Throughout the years, there has been a discussion of industrial reforms in major cities within South Asia and China. The Ministry of Foreign Affairs in China held a promoting event on May 28, 2018. In the event, the Foreign Minister of The People’s Republic of China, Wang Yi presented a speech that revealed the “enhanced version” adopted by the ministry. In the speech, he acclaimed that the ministry is focused on constructing the Xiongan New Area, which would comprise of a metropolitan society that shall portray the ‘development direction’ of the future. Similarly, such technological advancements should be administered in other nations that are geographically dispersed. For instance, Maldives is a sovereign state that relies on our collaborative efforts to sustain its economy. The Xiongan Area shall enable China to attract multiple talents from all over Asia and prompt the profound impetus to engage in mutually beneficial collaborations with other nations.

The smart city perspective is now the profound trend due to various reasons. One of the most significant reasons why major countries are adopting the technologically-institutionalized systems is to attain economic sustenance. Numerous analysts have emphasized the long-term threats associated with over-dependency in particular industries. Seemingly, developing economically efficient municipalities is a rational approach towards mitigating foreseen industrial threats. It would be a shame if we are left out from this technological advancement considering the fact that we actually have substantial resources to implement groundbreaking municipalities spreading all over south and Southeast Asia. Moreover, an adaptation of a contemporary foreign administration system entailing our joint inputs would foster a competitive relationship with other major countries hence maintaining our economic significance.

The SAARC proposes that there can be empirical economic growth if the South Asian countries extend their trade diversions by administering collaborative inputs with China. According to Prime Minister Wen Jiabao, the bilateral trade between China and the South Asian nations has majorly improved China’s economic outreach. However, the bilateral trade constitutes only 1% of China’s global trade whereas as it comprises 8% of India’s global trade. This is mainly because India and other South Asian nations are strongly dependent on multinational ties that add less value to their GDP. Alternatively, the South Asian ties should focus on establishing valuable trade relations with other regions with Asia that exhibit promising agricultural returns. This would boost their GDP and foster improvement and growth of various agricultural hot spots such as the Maldives.

Conclusively, I would like to thank you all for providing me the opportunity to share with you rational approaches that might be the cause of our economic sustenance in future. I hope my views were appreciated.