Singapore: Documents signed, signaling further cooperation
that trade stands as the foundation for Singapore, and Singapore supports a multilateral trade system, liberalized trade and investment and a rule-based global trade system.
The two leaders witnessed the signing of two documents on third market coop- eration and culture heritage protection.
Lee is on a five-day working visit to China starting Sunday, his second visit to China since September. During the visit, he will attend the Boao Forum for Asia’s annual conference in Hainan. It will be his first time at the conference and he will deliver a speech at the opening session of the forum.
During a group interview on Sunday, Lee said China’s economy has developed greatly since 2001, when it joined the World Trade Organization, and has both committed to and benefitted from the organization’s multilateral rules, including submitting to dispute settlements. He said that “if unilateral and tit-for-tat actions escalate into trade wars, the multilateral trading system that has brought countries prosperity for decades will be severely undermined”.
“There will be no winners in a trade war,” Channel News Asia quoted him as saying.
Premier Li Keqiang talks with visiting Singapore Prime Minister Lee Hsien Loong during the signing of two documents on third market cooperation and culture heritage protection between the two countries.