[ad_1]
SINGAPORE (Reuters) – Chinese Premier Li Keqiang said on Monday that Beijing would further open up its economy against growing protectionism as it went to meetings with leaders of the Asia-Pacific region in Singapore, which should focus on trade tensions.
PHOTO FILE: Chinese Premier Li Keqiang attends a joint press conference with Russian Prime Minister Dmitry Medvedev (not shown) at the Great Hall of the People in Beijing on November 7, 2018. REUTERS / Thomas Peter / Pool
Li Hsien Loong, Singapore's prime minister, called for stronger regional integration, saying multilateralism was threatened by political pressure.
"China has opened its doors to the world. we will never close it but will open it even more widely, "Li said in an article calling for an" open world economy "in the face of" the rise of protectionism and unilateralism ". did not directly address the deadly trade war between China and the United States.
US President Donald Trump, absent from this week's meetings, said that several existing multilateral trade agreements were unfair and that he had criticized China over intellectual property theft, barriers to the entry of US companies and a gaping trade deficit.
Vice President Mike Pence will attend Mr. Trump's place. Russian President Vladimir Putin, Indian Prime Minister Narendra Modi and Japanese Prime Minister Shinzo Abe are also among the personalities to join Li and the ten members of the Association of Southeast Asian Nations. (ASEAN).
It was unclear whether Li and Pence will have separate discussions on the margins of the meetings, which would be a prelude to a planned summit between Trump and Chinese President Xi Jinping at the end of the month in Buenos Aires.
The meeting, if it occurred, would follow the high-level talks in Washington, where the two sides outlined their main differences but seemed to be trying to limit the damage done to relations, which has worsened with absolute tariffs in recent months. [nL2N1XK1G9]
At the same time, Singaporean Prime Minister Lee said at an economic summit Monday before this week's meetings:
"ASEAN has great potential, but its realization depends on the choice of our integration and our determination to work decisively towards that goal in a world where multilateralism collapses under political pressure".
Lee had previously warned that the trade war between the United States and China could have a "considerable negative impact" on Singapore, and the city's central bank warned that it could soon weigh on the economy. .
Singapore and China are expected to rally support for the regional economic partnership pact (RCEP) currently being negotiated, which is presented as a free trade agreement that will encompass more than a third of global GDP.
The pact includes 16 countries, including China, India, Japan and South Korea, but not the United States. Li said China will work to "speed up" the RCEP negotiations this week.
Also on Monday, the 10-member ASEAN group concluded its first ever e-commerce agreement to boost cross-border transactions in the region.
Report by John Geddie; Edited by Raju Gopalakrishnan
