H.E. Li Keqiang, Premier of the State Council of the People’s Republic of China

Vientiane, 7 September 2016

Your Excellency Prime Minister Thongloun Sisoulith,Dear Colleagues,

It is a pleasure to attend the 19th ASEAN Plus Three (APT) Summit and join you to review the history of APT development, envision a bright future of East Asia cooperation and discuss plans for regional cooperation. On behalf of the Chinese government, I wish to thank the Lao government for the thoughtful preparation and arrangements it has made for the Summit.

APT cooperation, which emerged as Asian countries worked in unity to meet the financial crisis, is about to enter its second decade. Having stood the test of the global financial crisis, APT cooperation has become one of the most full-fledged and productive cooperation mechanisms. It has delivered tangible benefits to people of the region and contributed to making East Asia an important engine for world economic recovery and growth.

We meet at a time of difficult world economic recovery. Fluctuations continue to plague the international financial markets; global trade remains sluggish; trade protectionism is clearly on the rise; and economic globalization is facing a stronger headwind. The international security situation is no cause for optimism. Regional conflicts and hotspots are intertwined; terrorism, flow of refugees and other non-traditional security threats have become more pronounced and presented a common challenge to the international community.

The G20 Summit, just concluded in Hangzhou under the theme “Towards an Innovative, Invigorated, Interconnected and Inclusive World Economy”, put forth a host of major initiatives and measures and sent a strong message of parties working together to tide over difficulties. Under the new circumstances, East Asian countries need to stay vigilant, plan ahead and keep their focus on growing the economy, improving people’s well-being, advancing practical APT cooperation and maintaining overall peace and stability. This serves to ensure that East Asia cooperation, sound and sustainable as it is, will always stay on the right track and bring benefit to the people of countries concerned.

Dear Colleagues,

Since it was set in motion 19 years ago, APT cooperation has become an important platform for East Asia cooperation and played an important role on the political and economic stage in Asia and beyond. Since last year, new progress has been made in APT practical cooperation across the board. Countries concerned have worked in real earnest to implement the APT Cooperation Work Plan 2013-2017 and the EAVG II Report. A large number of cooperation projects have been carried out. The Asian Infrastructure Investment Bank (AIIB) was officially launched into operation; CMIM made continued progress; AMRO was officially upgraded into an international organization; and steady headway was made in APTERR institution building and RCEP negotiations. New steps have also been taken in such areas as connectivity, social, people-to-people, cultural and non-traditional security cooperation. As an important part of East Asia cooperation, China-Japan-ROK cooperation also made progress. The eighth China-Japan-ROK Foreign Ministers’ Meeting was held late August in Japan. Practical cooperation in various fields has been moving forward, providing useful impetus for APT cooperation.

Next year will mark the 20th anniversary of APT cooperation. I suggest that we take this as a new starting point to increase input, cement the role of APT as the main channel for regional economic integration and write a new chapter in East Asia cooperation. Next year, China will host the 15th East Asia Forum as well as commemorative activities and will discuss with various parties the formulation of an “East Asia economic community blueprint”. Here, I wish to put forth the following suggestions for APT cooperation going forward:

First, we need to step up financial security cooperation. We need to further enhance the efficacy of CMIM and ensure sound periodic review of relevant agreements. We need to facilitate AMRO in strengthening institution building, support greater contacts between AMRO and other regional mechanisms such as the Boao Forum for Asia, build it into an authoritative platform for regional macroeconomic research and assessment and make sure that it supports APT countries in elevating their macroeconomic monitoring capabilities. China supports the establishment of an Asian Financial Cooperation Association. This will enable us to promote experience sharing and exchange of expertise among regional financial institutions in a joint effort to uphold regional economic and financial stability.

Second, we need to deepen trade and investment cooperation. Last year, trade among APT countries was $1.3 trillion in total, accounting for merely 15% of the total of the 13 APT countries. As such, there is still much untapped potential for intra-regional trade. China supports ASEAN centrality in RCEP negotiations. We hope that parties will speed up and conclude negotiations as soon as possible to promote trade and investment liberalization and facilitation among APT countries. China hopes to discuss with various parties the establishment of an APT SMEs services alliance to help SMEs gain more tangible benefits from regional integration.

Third, we need to advance cooperation in agriculture and poverty alleviation. China supports greater efforts for APTERR institution building. The Modern Agriculture Cooperation Demonstration Base and the East Asian Transaction Platform for Livestock Products initiated by China will soon be officially launched. China will continue to conduct programs such as the APT Roundtable on Food Security, the Modern Agriculture Workshop and the APT Village Leaders’ Exchange Program. And we look forward to active participation by all sides. China is actively implementing the Cooperation Initiative on Poverty Alleviation in East Asia, which is expected to move into a stage of substantial implementation within this year. China and the Laos have jointly sponsored the APT Statement on Promoting Sustainable Development Cooperation to encourage countries in the region to implement the UN 2030 Agenda for Sustainable Development and make sustainable development a reality in East Asia. Moreover, China, Japan and the ROK may also harness their respective strengths to explore trilateral cooperation with ASEAN on sustainable development.