Asian Economy: Top Asian finance officials stress need to resist protectionism
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The finance ministers and central bank governors of China, Japan and South Korea have stressed the need to resist "all forms of protectionism". That move came on the sidelines of an Asian Development Bank annual meeting in Manila. The officials also agreed to ensure an open multilateral trade and investment system.
The Vice President of the Asian Development Bank -- Zhang Wencai -- says that anti-protectionism is a consensus in the Central Asia Region. He also said during Wednesday's annual meeting of the ADB that the Belt and Road Initiative brings new opportunities to the region.
ZHANG WENCAI, VICE PRESIDENT ASIAN DEVELOPMENT BANK "The Asian Development Bank aims to promote regional cooperation and integration. That's in line with the Belt and Road Initiative. We now have Central Asia Regional Economic Cooperation. We'll expand cooperation in the Mekong River region and other regions in the Asia Pacific. China has been a major participant and contributor in regional cooperation. China advocates multilateral cooperation, especially since the Reform and Opening up. China supports trade and investment liberalization. China will play a more important role in facilitating trade and investment."