Trade Resources Policy & Opinion Gao Hucheng Attends the 3rd East Asia Summit (EAS) Economic Ministers’ Meeting

Gao Hucheng Attends the 3rd East Asia Summit (EAS) Economic Ministers’ Meeting

On the morning of August 24, Chinese Minister of Commerce Gao Hucheng, who led a delegation to attend the series meetings of East Asia Economic Ministers in Kuala Lumpur, Capital of Malaysia, attended the 3rd EAS Economic Ministers’ Meeting.

Gao pointed out that 2015 is the 10th anniversary of EAS. Development and cooperation are the most important issues of East Asia at present. President Xi Jinping put forward the proposal of the common construction of the Silk Road Economic Belt and the 21st Century Maritime Silk Road, aiming at promoting the countries alongside to realize the coordination of economic policies, to carry out the regional cooperation with wider range, higher standard and deeper level, and to forge a regional economic cooperation framework which is open, inclusive, balanced and of general preference. The proposal has gained high attention from the international community. Premier Li Keqiang put forward at the summit last year that the East Asia is one of the regions which have the greatest potential and development prospects. The honor or disgrace and ups or downs of the East Asia not only concern the benefit of the people of the countries, but also concern the prospect and fate of the whole East Asia area. Both the countries within the region and countries out of the region are on one ship, enjoying the common interests and sharing the same fate.

Gao stressed that, ASEAN is the core of the East Asia cooperation. On the basis of the leading role of ASEAN, the active participation of the countries both within the region and out of the region contributes to the enrichment of the connotation of the East Asia Cooperation. At present, the world economy is still in the progress of structure adjustment and rules restructuring with weak growth foundation and many new uncertainties. As one of the regions with the most active economy, East Asia is in great demand to cooperate with the countries of other regions, to strengthen their cooperation and coordination, to jointly combat the risks and challenges like weak growth momentum, capital outflow, export gliding, high debt and the unrest of financial markets, in order to drive the world economy to the track of continuous recovery as soon as possible.

Gao put forward 4 proposals to the representatives of the participant countries at the meeting: firstly, stick to common development, promote trade and investment liberalization and facilitation, object to trade and investment protectionism, and realize a win-win result through cooperation; secondly, stick to the reform and promote the optimization of the world economic governance system, build rules and orders that benefit the common development of all the countries, try fast to approve and implement the shares reform plan of the International Monetary Fund, integrate China Yuan to the special drawing rights, bolster the diversification of international reserve currency, and promote the stability of the world finance; thirdly, stick to innovation-orientation, strengthen the drive of innovation and cooperation, realize fruits sharing, and provide new and strong vitality to the sustainable development of the world economy; fourthly, pay attention to risk prevention, strengthen economic competitiveness through active structure reform on the basis of ensuring the stable and healthy economic development of the own country, strengthen the coordination of macroeconomic policies, and combat the great risks and challenges of the world economic and financial field jointly.

Gao Hucheng also exchanged views with the participating representatives on regional and international economic development, and the economic situation and policies of China under “New Normal” which is concerned by the foreign countries. The meeting was attended by the officials of economic and trade department of 10 ASEAN countries, the U.S., Russia, Japan, ROK, Australia, New Zealand and India and the Secretary General of ASEAN. Vice Minister of Commerce Wang Shouwen accompanied Gao, and attended the meeting.

Source: http://english.mofcom.gov.cn/article/newsrelease/significantnews/201508/20150801094151.shtml
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