Economy 11-06-2018

Xi Jinping: the OCS votes for an equitable trade against protectionism

Chinese President Xi Jinping said in summarizing the Leadership Council of the Shanghai Cooperation Organization (SCO) that that entity votes against protectionism and in favor of an equitable trading system Transparent and multilateral.

"It is essential to defend the authority of the rules of the WTO to promote a fair transparent and multilateral trading system to confront protectionism in all its manifestations, to defend the principles of mutual benefit and profit for all" said the Chinese leader.

Xi stressed that the members of the SCO will continue to perfect regional economic cooperation and promote compliance with the program based on the Chinese initiative of 'One Strip One Route' and its integration into other development strategies.

The areas covered by future cooperation will range from trade investment finance to agriculture and in all these areas favorable conditions will be created to create a "new architecture for the development of regional integration for the benefit of the peoples of the world. Regional countries as well as to provide a new impetus to the development of the world economy "according to the Chinese leader.

"At the same time, the process of recovering the world economy is not so easy, it is going down a crooked path and here or there hot issues arise from the global and regional agenda" the president warned.

Xi Jinping also reported that the meeting was decided to pass the presidency of the SCO to Kyrgyzstan country where the next summit of the body will take place next year.


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