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China hopes for early RCEP

Ros Chanveasna / Khmer Times Share:

BEIJING – Vying to increase its participation in the global economy, China recently expressed a commitment to prioritise work in various international free trade agreements, including the Regional Comprehensive Economic Partnership (RCEP), in which Cambodia is involved.

Addressing the first plenary session of the 2018 National People’s Congress (NPC), which is now being held at the Great Hall of the People in Beijing, Chinese Premier Li Keqiang yesterday announced that China is ready to speed up talks and efforts to build the Free Trade Area of the Asia-Pacific (FTAAP), and the East Asia Economic Community.

“China is ready to work closely with all relevant parties to advance multilateral trade negotiations and will work for the early conclusion of negotiations on the Regional Comprehensive Economic Partnership,” he said.

Premier Li said his country is committed to promoting economic globalisation and free trade.

“China calls for trade disputes to be settled through discussion as equals, opposes trade protectionism and will resolutely safeguard its lawful rights.”

Mr Li pointed out that China will work toward building major international corridors and deepen cooperation on streamlining customs clearance along the routes of the Belt and Road Initiative.

“We are committed to achieving share growth through discussion and collaboration and will act on the outcomes of the Belt and Road Forum for International Cooperation,” he said.

The Chinese premier also took the opportunity to highlight the country’s impressive economic performance, marked by a significant rise in GDP during the last five years, from 54 trillion to 82.7 trillion yuan.

During the same period, China’s share of the global economy rose from 11.4 to 15 percent, Mr Li said.

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