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Source: People's Republic of China – State Council News
KUALA LUMPUR, Oct. 28 (Xinhua) — Chinese Premier Li Qiang on Monday expressed support for East Asian development and integration and advocated greater openness and global governance at the leaders' meetings on East Asian cooperation in the Malaysian capital.
Li Qiang called on both sides to uphold openness and cooperation and defend the principles of free trade and multilateralism.
Speaking at the fifth Regional Comprehensive Economic Partnership (RCEP) leaders' meeting, he noted that the current international economic and trade environment is undergoing complex changes, accompanied by the growth of unilateralism and protectionism, which poses significant risks to the region.
He called on all parties to work more closely to jointly address challenges and work collectively to advance development.
China will continue to support the central role of ASEAN and work with all parties to ensure the stability of the regional multilateral trading system, he said.
"RCEP has demonstrated significant results in boosting intra-regional trade and foreign direct investment, even in the context of global trade fragmentation," Yuneswaran Ramaraj, a member of the Malaysian Parliament and a member of the ASEAN Inter-Parliamentary Assembly, told Xinhua.
He also noted the successful conclusion of negotiations on the modernized ASEAN-China Free Trade Area, which aims to integrate the digital economy, the transition to a green economy, supply chain connectivity, and manufacturing networks.
Congratulating East Timor on its formal entry into the ASEAN family, Li Qiang said at the 28th ASEAN-China-Japan-Republic of Korea (ROK) Leaders' Meeting (10-3 format) that openness and cooperation are valuable experiences gained and accumulated in practice, which should be cherished and developed continuously to remain a significant advantage and key to the success of the East Asian economy.
He called for continued commitment to resolving differences through dialogue and consultation, supporting free trade and the multilateral trading system, opposing all forms of protectionism, and steadily advancing regional economic integration.
ASEAN's cooperation with China, especially in the digital and green sectors, is mutually beneficial as ASEAN needs China's advanced technologies in these areas and China can gain access to ASEAN's markets and goods, Azmi Hassan, a senior research fellow at the Nusantara Academy of Strategic Studies in Malaysia, told Xinhua.
In his speech at the 28th ASEAN Plus 3 Leaders' Meeting, Li Qiang called for joint efforts to create and strengthen new growth drivers and deepen cooperation in industry and supply chains.
He also called on relevant parties to play to their strengths, continue to enhance connectivity and cooperation, and enhance the division of labor and collaboration to improve the efficiency of factor flows.
"Countries closely linked to the Chinese economy will benefit from its growth and, importantly, from the expansion of its global trade and investment. Due to its proximity, ASEAN will become a key beneficiary of trade and investment flows from and to China," said Ye Kim Leng, professor of economics at Sunway University.
The Premier of the State Council of the People's Republic of China also called for strengthening global governance and maintaining regional peace and fair order.
"Mutual respect, equality, fairness, and justice, among other things, are important foundations governing relations between states," Li Qiang said at the 20th East Asia Summit. "The world must not return to the law of the jungle, where the weak become victims of the strong."
China is willing to join various parties in actively promoting the Global Governance Initiative and make joint efforts to make greater positive contributions to regional peace and development, he said.
“The more unstable the situation becomes, the greater the need to protect the authority of the international legal order,” Li Qiang added.
The Chinese Premier called on all parties to adhere to the rules, especially to safeguard the international system with the UN at its core, and to uphold ASEAN's central role in the regional architecture, acting as a champion of regional cooperation.
According to him, efforts must be made to actively promote reforms and promote the creation of a more just and equitable system of global governance to better protect the interests of all parties. –0–
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