As uncertainties and complexities affect trade and economy worldwide, building deeper and closer business relations is of utmost importance to accelerate economic growth and advance technological innovations, said officials and top executives of multinational corporations attending the 7th China International Import Expo in Shanghai.

Delivering a keynote speech at the opening ceremony of the expo on Tuesday, Premier Li Qiang said that amid growing uncertainties and the rise of unilateralism and protectionism, concerted efforts should be made to enhance openness to promote lasting peace, stability, development and prosperity.

Global economic recovery awaits more impetus, and countries need to address different problems on their development paths, he said, adding that cooperation is key for promoting global growth and China is making its due contribution in this regard.

Li also called for efforts to uphold the international economic order and implement more bilateral and multilateral trade agreements, so that various parties can better promote openness and cooperation and jointly advance common development.

Ngozi Okonjo-Iweala, director-general of the World Trade Organization, said in a video speech at the opening ceremony that as geopolitical tensions intensify and signs of fragmentation emerge in global trade and investment, it is crucial for political and business leaders around the world to collaborate on preserving and reforming the multilateral trading system.

Jean-Paul Agon, chairman of French beauty giant L'Oreal, said that China's commitment to embracing the world, which was reflected in Premier Li's speech, powers the group's growing confidence in the Chinese market.

According to Li, a large number of new growth engines have been nurtured amid the new wave of technological and industrial revolution around the world.

While China has been advancing opening-up through innovative cooperation, it is willing to expand access to its enormous market by implementing more such measures, the premier said at the CIIE opening ceremony, which also marked the start of this year's Hongqiao International Economic Forum.

China will continue to advance opening-up in telecommunications, education, culture and medical care, and adopt unilateral visa-free policies, he added.

Roy Jakobs, CEO of Royal Philips, lauded China's development as an innovation hub and said it is crucial to understand the supportive policies that not only facilitate innovation within the country, but also around the globe.

The CIIE serves as an important platform through which companies can closely connect with players in the technology and innovation sectors, as well as the government, he said.

Philippe Metzger, secretary-general and CEO of the International Electrotechnical Commission, said that global cooperation is becoming increasingly important to promote the use of emerging technologies, such as artificial intelligence, in a safer and more sustainable manner amid the ongoing digitalization trend worldwide.

The seventh CIIE, which runs through Sunday, has attracted the participation of about 3,500 overseas exhibitors, including a record 297 industry leaders and Fortune Global 500 companies.

On Tuesday, Li also held separate meetings in Shanghai with Serbian Prime Minister Milos Vucevic, Mongolian Prime Minister Luvsannamsrai Oyun-Erdene and Malaysian Prime Minister Anwar Ibrahim, all of whom attended the opening ceremony.

source: chinadaily.com.cn

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