Mekong coun­tries’ lead­ers call for $66 bil­lion in­vest­ment

Asian De­vel­op­ment Bank, re­gional gov­ern­ments to col­lab­o­rate on plan

Arab News - - BUSINESS -

mech­a­nism of the re­gion and will make a con­crete con­tri­bu­tion to the eco­nomic and so­cial de­vel­op­ment of mem­ber coun­tries, pro­mote sus­tain­able de­vel­op­ment and re­in­force the peace­ful and sta­ble en­vi­ron­ment in the re­gion,” he said.

In the mean­time, Chi­nese State Coun­cilor and For­eign Min­is­ter Wang Yi said the world’s sec­ond-big­gest econ­omy sup­ports “the mul­ti­lat­eral trad­ing sys­tem and pro­motes an open, in­clu­sive and bal­anced eco­nomic glob­al­iza­tion that ben­e­fits all.”

“China has long been an ad­vo­cate of an open world econ­omy. China is com­mit­ted to win-win co­op­er­a­tion in open­ing up and firmly op­poses trade pro­tec­tion­ism,” Wang said. “Pro­tec­tion­ism harms oth­ers with­out ben­e­fit­ing one­self — it is a one-way street that leads to nowhere. The right ap­proach to ad­dress trade dis­putes is to con­duct con­sul­ta­tion in line with in­ter­na­tional rules and as equals.”

Pres­i­dent Don­ald Trump’s move last week to im­pose tar­iffs on as much as $60 bil­lion on Chi­nese goods prompted Bei­jing to con­sider im­pos­ing tar­iffs on a num­ber of Amer­i­can goods ex­ported to the coun­try.

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