Li says stalled Doha talks may affect world recovery

DALIAN - Chinese Premier Li Keqiang on Wednesday urged major countries to make "bold political decisions" to move forward the global multilateral trade system, warning the stalled Doha talks could affect the world recovery.

Li said China holding an open and inclusive attitude regarding bilateral and regional trade arrangements such as Trans-Pacific Partnership and Transatlantic Trade and Investment Partnership.

"Trade arrangements, be it regional or bilateral, should both follow the basic rules of multilateral trade and observe the basic principle of being open, inclusive and transparent," he said.

The premier's remarks came in responding to questions raised by executive chairman of the World Economic Forum Klaus Schwab, after he delivered a keynote speech at the opening ceremony of the Annual Meeting of the New Champions 2013, also known as Summer Davos, in northeast China's port city of Dalian.

Li said the integration of the world economy and liberalization of trade is an "unstoppable" trend and all trade arrangements should abide by the basic principle to facilitate trade liberalization and resolutely oppose trade protectionism.

"Whatever the regional trade arrangement should realize the ultimate goal of economic globalization and should not replace multilateral trade arrangement, which is the only way to the sustainable development and prosperity of world economy," he said.

Li warned that if the multilateral trade mechanism fails to move forward, it would affect the world's economic integration and the world economic recovery, thus making recovery more difficult and incurring trade protectionism.

He reiterated that China will unwaveringly open up and firmly oppose trade protectionism.