Premier Li advocates free trade, multilateralism in Singapore speech

Chinese Premier Li Keqiang on Tuesday called for global efforts to uphold free trade and multilateralism so as to realize world peace and global common prosperity.

Li said this in a speech titled "Pursuing Open and Integrated Development for Shared Prosperity" at the 44th Singapore Lecture.

Li said it is the international order based on multilateralism and free trade that has helped humanity maintain lasting peace and reduce poverty since the end of WWII more than 70 years ago.

Amid international vicissitudes, the international community needs to firmly follow multilateralism, adhere to mutual respect and equality between big and small countries and insist on solving problems through dialogue and managing disputes via negotiation, said Li.

It is free trade that promotes the process of globalization, Li said, noting that free trade has not only underpinned the growth and prosperity of Singapore, but also constitutes the necessary condition for forging ahead China's opening-up.

Though some say that problems occurred in the process of globalization and free trade rules need adjustment, China believes that generally speaking, globalization adapts to the direction of human development, the premier said.

Stressing that China has always advocated just and fair trade, Li said free trade is the prerequisite of all trade.

"Without free trade, it means no trade, then how can there be just and fair trade? Meanwhile, just and fair trade is an important basis for the continued development of free trade," Li said.

He called for reform measures to address problems that occurred in the process of globalization, but warned that those measures should not run counter to the basic rules of multilateralism and free trade, especially should not discard the current regime and start all over again.

"China is willing to discuss with all sides ways to improve free trade and promote the development of globalization," said Li.

"We also stand ready to talk about just and fair trade so as to make free trade more robust and develop at a higher level," he added.

Li arrived Monday for his first official visit to the city state, where he is expected to build momentum for free trade and regional cooperation.

During the visit, Li is also going to attend the 21st China-ASEAN (the Association of Southeast Asian Nations) (10+1) leaders' meeting, the 21st ASEAN-China, Japan and South Korea (10+3) leaders' meeting and the 13th East Asia Summit.

Li will also meet with ASEAN leaders on the progress of Regional Comprehensive Economic Partnership, a trade deal that, once agreed upon, could cover half the world's population.