On the morning of August 8th, Chinese minister of commerce, Gao Hucheng, who was leading the Chinese delegation to the Conference of Ministers of trade and economic cooperation in East Asia, attended the fourth EAS meeting of Ministers of trade and economic.
Gao Hucheng stated development is now the primary mission that every country is facing. Presently, the world economy is unstable and the unpredictable factors are increasing. The International Monetary Fund has lowered the enhancing rate of world economy twice since this year, the cry for “Anti-globalization” and “De-globalization” is increasing. However, undoubtedly, globalization is still the irreversible trend of this era, global cooperation and division of labor raise the efficiency and amplify the market, different countries shared their development and prosperity while being connected more intimately. Since the financial crisis of 2008, the increasing rate of the world trading has been continuously slower than the increasing rate of the world economy, the amount of foreign investment still has not reached the level before the financial crisis in 2008. To relaunch the world economy, the two engines, trade and investment, must be activated. The Chinese side firmly supports the process of globalization and multilateral trade system to take the leading position, oppose any form of protectionism and suggest that every country should strengthen macro policy coordination and face the challenge together.
Gao Hucheng stressed that the Chinese side will keep its promises. Last month, the G20 Trade Ministers’ Meeting of Commerce was held successfully in Shanghai, China. The meeting realized the institutionalization of the G20 Trade Ministers’ Meeting, prepared the practical achievements for the summit in Hangzhou, promoted the switch of the G20 from the system of responding to crisis to a platform of long-term governance. The Chinese side will always persist in the idea of mutual benefit and win-win result, be willing to hold the principle of discussing together, developing together and sharing things together, promote the development of the Belt and Road, and bring power to the enhancement of world economy and regional economic cooperation. China as the second-biggest economy, doing its own job is the best contribution it can bring to the world. Since this year, we have increased the total demand properly, promoted the structural reform of the supply side in depth, positively and steadily cut the excessive production capacity, and sold the unsold and made up for the weakness. This has shown great and obvious effect. In the first half of the year, the economy increased for 6.7%, functioning as the primary impetus to the growth of the world economy.
Minister Gao Hucheng pointed that the economy of east Asian countries is dependent on foreign trade, it would be beneficial for every member to promote the global and regional cooperation. The enormous long time difference among Asian countries has formed a cooperation system of equal discussion and genuine care for every country. This brings Asian experience to the world economy governance. Regional issues should be solved through by discussion. The Chinese side is willing to boost the regional economy integration of Asian Pacific together with other countries. China hopes that the free trade arrangement in this region can focus more on openness and inclusiveness, learn from each other, and help each other. The Chinese side would like to strengthen the cooperation with other side, try to implement the Declaration on the development of Phnom Penh. The Chinese side appreciates and supports Laos on proposing “the declaration on promoting the cooperation and development of the East Asia infrastructure of Vientiane”.
The ministers of the ten countries of ASEAN, America, Russia, Japan, Korea, Australia, New Zealand, India and the secretary-general of ASEAN attended the meeting. Chinese ambassador to Laos and the vice Ministry of Commerce Wang Shouwen accompanied to attend the meeting.