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Nazrin Abdul

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Chinese Premier Li Qiang has stated that Beijing is ready to work with the international community to help steer the global economy back onto a path of growth, Azernews reports, citing China’s Xinhua news agency.

According toinformation , Premier Li made the remarks during a meeting with World Trade Organization (WTO) Director-General Ngozi Okonjo-Iweala on the sidelines of the 17th BRICS Summit.

"Global trade is undergoing significant changes due to rising unilateralism and protectionism," Li said. "These trends have severely impacted the international economic and trade order, posing major challenges to global economic growth and national development."

He emphasized the growing need for the international community to uphold the multilateral trading system in light of these challenges. Stressing that economic globalization is an irreversible trend, Li reaffirmed China’s commitment to multilateralism and free trade.

The premier also noted that China possesses ample resources and tools to withstand external shocks and will continue to support stable and healthy economic development. He highlighted China’s adoption of more proactive and effective macroeconomic policies this year, including efforts to expand domestic demand and boost consumption.

Li pointed to China's massive consumer base of over 1.4 billion people as a powerful driver of economic demand and growth. He added that China will continue to open up to the world voluntarily and unilaterally, adhere to WTO principles and market rules, and share its development opportunities with other nations to spread positive energy globally.

For her part, WTO chief Okonjo-Iweala acknowledged that the current multilateral trading system is under strain, and that global economic and trade growth faces serious challenges. She urged WTO member states to strengthen dialogue and cooperation, safeguard the multilateral trading system, and promote sustainable development.