KUALA LUMPUR, Oct 27 (Bernama) -- United Nations (UN) Chief Antonio Guterres has welcomed the latest development in trade relations between the United States (US) and China, as both superpowers have brought renewed optimism towards reaching a deal.
Speaking at a press conference at the Kuala Lumpur Convention Centre (KLCC) here today, the secretary-general said current trade restrictions are negatively impacting the global economy, particularly developing countries.
“I am a strong defender of free and fair trade. Trade wars do not benefit anybody, nobody wins in trade wars.
“I hope that any trade negotiations that take place are successful and contribute to establishing a regime in which trade is a facilitator of development instead of an obstacle to development,” he said ahead of the 15th ASEAN-UN Summit held in conjunction with the 47th ASEAN Summit and Related Summits here.
Yesterday, US President Donald Trump, who was in Malaysia for the ASEAN Summit, expressed optimism for a potential trade deal with Chinese President Xi Jinping during their meeting on the sidelines of the Asia-Pacific Economic Cooperation (APEC) Summit in South Korea this week.
According to media reports, the trade negotiation between China’s trade negotiator Li Chenggang and Vice Premier He Lifeng with US Treasury Secretary Scott Bessent and US Trade Representative Jamieson Greer on the sidelines of the ASEAN Summit, yielded positive outcomes.
Meanwhile, Guterres said trade and economic cooperation initiatives such as the Regional Comprehensive Economic Partnership (RCEP) are positive steps forward.
He said developing countries must have stronger representation and decision-making power within the global financial system, alongside greater access to debt relief and concessional funding to overcome current economic challenges.
“I am totally against a world in which superpowers have a dominant role. We need a world in which international law prevails, in which the values of the UN Charter prevail,” he said.
-- BERNAMA
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