Advancing Asian cooperation to restore global economic growth: Vice-Premier

Chinese Vice-Premier Zhang Gaoli delivers a speech at the opening ceremony of the BFA Annual Conference 2017 in Boao, South China's Hainan province, March 25, 2017. [Photo by Feng Yongbin / China Daily]

Asian economies should work to restore and enhance trade and investment as a driver of global economic growth, Vice-Premier Zhang Gaoli said on Saturday.

At the opening ceremony of the Boao Forum for Asia in Hainan province, Zhang said during his keynote speech that Asian economies should firmly support the multilateral free trade system such as the World Trade Organization, and jointly increase inclusiveness of global free trade arrangements.

"We should work together and stick to the principle of opening up and development... and to promote the establishment of the global value chain with the emphasis on shared benefits," Zhang told participants of the forum.

The vice-premier acknowledged the positive role Asian economies maintain in driving global growth and free trade as active participants in the process of globalization.

Zhang said that Asian economies should advance the process of regional cooperation under frameworks such as China-ASEAN (the Association of Southeast Asian Nations) Free Trade Area and promote cooperation among ASEAN countries and China, Japan and South Korea as well as the Lancang-Mekong sub-region cooperation.

Zhang added that the Asian economies should continue to actively promote the establishment of a free trade area of the Asia-Pacific region.