Premier Li calls upon Asia, Europe to build open world economy

Chinese Premier Li Keqiang on Friday urged Asia and Europe to stay committed to building an open world economy.

Li made the appeal when addressing the 12th Asia-Europe Meeting (ASEM) Summit in Brussels.

Chinese Premier Li Keqiang addresses the 12th Asia-Europe Meeting (ASEM) Summit in Brussels, Belgium, Oct. 19, 2018. [Photo: Xinhua/Huang Jingwen]

The hard-won momentum of the world economic recovery still demands adhering towards the direction of open development, and promoting a more inclusive and balanced global division of labor, Li said.

The two continents should also resolutely safeguard the rules-based multilateral trading system and consolidate the foundation for economic globalization and free trade, he added.

Chinese Premier Li Keqiang (2nd R, front) attends the 12th Asia-Europe Meeting (ASEM) Summit in Brussels, Belgium, Oct. 19, 2018. [Photo: Xinhua/Ding Haitao]

When making appropriate adjustments and improvements to the existing rules of the World Trade Organization, Li said, the basic principle of free trade should be adhered to, the interests and concerns of all sides should be fully taken into consideration. Special attention should also be paid to protecting the rights and interests of developing countries.

Leaders attending the 12th Asia-Europe Meeting (ASEM) Summit pose for a group photo in Brussels, Belgium, Oct. 19, 2018. Chinese Premier Li Keqiang attended the summit here on Friday. [Photo: Xinhua/Ding Haitao]

Efforts should be made to both promote global economic growth and prosperity and narrow down the South-North gap, the premier said.

Li is in Brussels for a working visit to Belgium and attending the ASEM summit.