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27 November, 2008 00:55:45 | in politics

Hu Seeks Trade Boost to Fight Crisis

Boosting multi-lateral trading, tackling climate change and responding better to natural disasters were some of the key proposals put forward by President Hu Jintao at the APEC economic leaders' meeting on Saturday.


The Chinese president suggested a way to move forward would be for the APEC member economies to build a consensus. This would be a way to promote the development of a multilateral trading regime. The financial community should move to establish a new international financial order that is fair for all if a crisis like the one we are living at the moment is to be avoided in the future.



"We should have strong confidence in the multilateral trading regime and give strong support to the Doha Round of negotiations," he added.


“Social responsibility should be strengthened through better regulation”, he continued “and APEC members should also take coordinated actions to ensure world food and energy security”.


"We should, following the principle of common development, actively and effectively coordinate our policies and resort to a variety of joint measures to safeguard world food and energy security," he said.


Hu made a point of bringing forth the issue of Disaster Response and Cooperation and presenting it to the other member economies.


China, having had a terrible year with snowstorms lashing the southern regions and the May 12th earthquake claiming thousands of lives, the President went on to say it was his country’s "hope that APEC members would consider carrying out long-term cooperation projects in post-disaster recovery and reconstruction so as to deepen APEC cooperation in disaster prevention and relief,".

Climate change was another area of great importance in which APEC member economies should also take up responsibilities, he stressed.


As to the World Economic Crisis Hu pointed out that it was urgent for all countries to take prompt and effective measures, enhance macroeconomic policy coordination, and improve information sharing. To help each other as much as possible and reject protectionism is vital. All countries and regions are partly responsible in dealing effectively with financial risk and the maintaining of financial stability and development.


From a long-term perspective, it is necessary to change models of economic growth that are not sustainable and to address the underlying problems in economies.


"We should also pay adequate attention to the impact of the financial crisis on the developing world and provide necessary support to relevant countries to help them maintain growth momentum," he pointed out.


As to the free trade agreement between China and Peru talks were finalized last Saturday November 22nd and bilateral ties were upgraded to a strategic partnership.

Hu said the move symbolized that bilateral ties are entering a new era of rapid development. In future bilateral cooperation between China and Peru full play should be given to each other's advantages in resources, technology, capital and market.

Since the beginning of this year, China-Peru ties have made new headway. Both countries maintained close political contact, strengthened political mutual trust, expanded trade links and enhanced cultural exchanges and maintained close consultation and cooperation in international and regional affairs.

More efforts could be made in the mining area and the Chinese side hopes the Peruvian side could facilitate Chinese enterprises seeking to invest in Peru.

Chinese enterprises have mature expertise and rich experience in the construction of ports, roads, telecommunications, electricity network and urban water-supply system and are willing to participate in all these projects in Peru, Hu said.


Regarding APEC development, the president stated China is ready to work with other APEC members to promote its further development.


"We should maintain the nature of APEC as a forum for economic cooperation and its approach of conducting cooperation on a non-binding basis, as this best suits the diversity prevailing in the Asia-Pacific," he said.


“APEC members should continue to promote balanced progress in economic and technical cooperation and trade and investment liberalization.”


"In particular, we should increase input in economic and technical cooperation to enhance capacity-building in developing members and narrow the development gap." Hu said.

News source: Xinhua

 

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1 Comments

# roberto roca says :
13 December, 2008 [ 07:28 ]
 This is look good peruvian people, but we need tosee first.

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