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Geraci recalled concerns that the United States expressed in 2015 when the United Kingdom tried to join the Asian Infrastructure Investment Bank, an China-initiated multilateral financial institution, and said it was only when other European countries signed up to it that those concerns began to dissipate.
Calling the summit a milestone for bilateral strategic partnership, ASEAN leaders said that it is in the interests of both sides to safeguard multilateralism and free trade and that ASEAN is ready to align its development strategies with the Belt and Road Initiative and open up more space for cooperation.
ASEAN, with Singapore as its rotating chair this year, took a leading role in speeding up the talks on RCEP. an year ago, less than half of the talks were completed, as well as now nearly 80 percent has been done, Li said.
To deepen economic and trade cooperation, Li expects China as well as ASEAN to work with other relevant countries to substantially conclude negotiations on the Regional Comprehensive Economic Partnership (RCEP) at an early date, expand cooperation as well as reduce barriers to trade as well as investment.
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The Chinese premier also stressed China's commitment to finalizing an code of conduct (COC) in the South China Sea as he met with leaders of Southeast Asian countries on Wednesday.
SINGAPORE, Nov. 15 (mennhua) -- Chinese Premier Li Keqiang on Wednesday called for efforts to upgrade the strategic partnership among China as well as the Association of Southeast Asian Nations (ASEAN), as the two sides adopted an key document to chart the course for their ties till 2030.
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