VP says trust, cooperation key for opportunity

Wang Qishan tells Russian forum no country should blame others for its own problems

Vice-President Wang Qishan called on the international community to enhance trust and cooperation to grasp opportunities from technology and industry and generate new economic growth globally.

At the plenary session of the 2018 St. Petersburg International Economic Forum on Friday, the second day of the event focused on the theme of creating an economy of trust, Wang said China wants to increase its cooperation with the world and boost global economic development through the Belt and Road Initiative.

He said the influence of peaceful development, open cooperation and creative innovation, brings the global community hope, but also challenges.

No country can surmount today's challenges alone, Wang said, and building an economy based on equality, mutual trust and benefit, inclusiveness and good faith between enterprises, markets and countries will effectively unleash the potential of global growth.

He called on countries to build trust and boost cooperation in order to tackle international challenges and secure a foundation for sustainable global growth.

Trust-building requires mutual understanding and respect, he said, and it needs all parties to discover and solve their own problems and consolidate their self-confidence.

Wang stressed that politicizing economic and trade issues and resorting to economic sanctions at the slightest provocation will gravely impair market certainty.

No country should blame its problems on others, and all countries should pursue development paths suitable to their conditions and strive for common development through opening-up and cooperation, he said.

Wang proposed that countries around the world join forces to chart a course forward with structural economic reforms and innovative development.

He called for global unity in resisting trade protectionism and safeguarding the stable international economic order and particularly the multilateral trading system.

Economic and trade disputes should be handled through communication and consultation, and the parties need to take care of each others' major concerns, he said.

China, he said, is forging ahead under the leadership of President Xi Jinping toward the Chinese Dream of national rejuvenation and will steadfastly adhere to the opening-up policy of mutual benefit.

Wang hailed the achievements of Sino-Russian cooperation in recent years.

The annual trade volume between the two is approaching $100 billion, he said, and China stands ready to work with Russia to deepen their cooperation, strengthen their comprehensive strategic partnership of coordination, and make new contributions to building a community with a shared future for mankind.

Sergei Uyanayev, deputy director of the Russian Academy of Sciences' Far Eastern Studies Institute, said the trade turnover structure between the countries shows development and improvement and the goal of $200 billion in bilateral trade will be reached.