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China, New Zealand eye closer trade ties, economic globalization

China and New Zealand will jointly establish an upgraded free trade area with more open trade and investment, to promote bilateral trade cooperation and economic globalization, Premier Li Keqiang said in Wellington, on March 27.

Noting rising protectionism and counter-globalization, Premier Li said in talks with his New Zealand counterpart Bill English that both sides should adhere to the UN Charter principles, and jointly and steadily push forward economic globalization and create a more open global market.

As advocates and beneficiaries of economic globalization and regional integration, China and New Zealand should strengthen bilateral cooperation within the framework of the Asia Infrastructure Investment Bank, a China-initiated multilateral financial institution that aims to support infrastructure construction across Asia, he said.

He also called on both countries to speed up negotiations on the Regional Comprehensive Economic Partnership and play an active role in economic growth of the Asia-Pacific region and the rest of the world as well as in regional peace, stability and prosperity.

China and New Zealand have highly compatible development strategies and complementary economies, he said, adding that the alignment of development strategies, innovation and husbandry cooperation will drive bilateral cooperation.

Both sides will create new business opportunities by enhancing cooperation on the Belt and Road Initiative, proposed by China in 2013 with an aim to build a trade and infrastructure network connecting Asia with Europe and Africa along and beyond the ancient land and maritime Silk Road trade routes, he said.

In addition, the two countries will strengthen cooperation in such fields as joint research, information sharing, new types of businesses and cross-border e-commerce, the Premier noted. (source: ENGLISH.GOV.CN)