BEIJING: China is looking forward to concluding negotiations on the Regional Comprehensive Economic Partnership (RCEP), while speeding up efforts at building the Asia-Pacific Free Trade Area (FTA) and East Asia Economic Community, said Premier Li Keqiang.
“We are ready to work with all relevant parties to advance multilateral trade negotiations, and will work towards the early conclusion of negotiations on the RCEP, as well as protecting free trade.
“China calls for trade disputes to be settled through discussion as equals, opposes trade protectionism, and will resolutely safeguard its lawful rights,” he said, when delivering the “Report on the Work of the Government ”, in the first session of the 13th National People’s Congress (NPC) at the Great Hall of People here today.
The China-led RCEP is a proposed FTA among the the 10-member ASEAN, comprising Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam, and the six countries with which the regional grouping has existing FTAs with, namely Australia, China, India, Japan, South Korea and New Zealand.
Li said China would also work towards building major international corridors and deepen cooperation on streamlining customs clearance along the routes of the Belt and Road Initiative.
“We will advance international cooperation under the initiative, and China is committed to sharing growth through discussion and collaboration, and act on the outcome of the Belt and Road Forum for International Cooperation,” he said.
He also said China had opened its doors wider to the world, in playing a powerful role in its own development, and this presents important opportunities for the rest of the world.
“China is moving forward with international cooperation on production capacity, high-speed rail, nuclear power, and other types of Chinese equipment have entered international markets.
“We have guided the healthy development of outbound investments, and signed or upgraded eight free trade agreements until now,” he added.
Over the past five years, China’s economic strength has reached a new high with gross domestic product (GDP) rising from 54 trillion yuan (RM1 = 1.62 yuan) to 82.7 trillion yuan and average annual growth of 7.1 per cent
“China’s share in the global economy has grown to roughly 15 per cent, up from 11.4 per cent,” Li said.
The first session of the NPC opened today and will run for 15 and a half days.