Rio de Janeiro, July 7 (CMG)- Chinese Premier Li Qiang has reaffirmed China’s unwavering commitment to multilateralism and the practice of free trade amid rising global economic uncertainties.
During a meeting in Rio de Janeiro on Sunday with World Trade Organization (WTO) Director-General Ngozi Okonjo-Iweala, Li noted that the global trade landscape has undergone profound changes.
“Unilateralism and protectionism are intensifying. International economic and trade rules are being seriously disrupted, posing tremendous challenges to the world economy and the development of all nations,” Li said.
Against this backdrop, Li stressed that there is a strong call from the international community to uphold the multilateral trading system and growing expectations for a more active role by the WTO.
“Economic globalization is an irreversible historical trend. China will remain steadfast in practicing multilateralism and free trade,” Li emphasized, adding that Beijing is willing to work with the international community to steer the global economy back onto the right track as soon as possible.
Li also expressed confidence in China’s economic resilience, stating that the country possesses sufficient resources and mechanisms to mitigate external shocks and ensure sustainable and sound development of its economy.
“With a super-sized market of over 1.4 billion people, China will continue to unleash significant demand potential,” he said.
For her part, WTO Director-General Okonjo-Iweala acknowledged the severe challenges facing the current multilateral trading system, which she said is under attack, threatening global economic and trade growth.
She called on WTO members to strengthen dialogue and cooperation, protect the multilateral trading framework, and promote sustainable development.
Source: Ruby-Hashim-Suborna, China Media Grou.