Chinese Vice Premier Zeng Peiyan Tuesday urged the international community to strengthen exchanges and cooperation so as to keep up with the tide of economic globalization.

All countries around the world should continue to promote trade liberalization and facilitation, further open their markets, lift restriction on commodities import and technological import, and properly handle trade disputes under the framework of the World Trade Organization, Zeng said at the ongoing 2005 Fortune Global Forum.

The countries should conduct dialogue on their investment policies, vigorously improve their investment environment, promote investment liberalization and expand transnational investment, he said.

Multinational companies should be encouraged to invest in new- and high-tech industries, advanced manufacturing, modern services and modern agriculture in developing countries and establish research and development centers, procurement centers and management centers in these countries, so as to raise the level of investment cooperation.

Zeng also called on countries throughout the world to encourage local enterprises to engage in transnational operations and internationalized production, promote multinational companies to form strategic leagues with enterprises of developing countries, and push forward cooperation between medium-sized and small enterprises.

The role of international and regional organizations and international forums should be brought into better play, and economic cooperation between Asian and the rest of the world and between Asian countries should be further enhanced through such channels as the Asia-Pacific Economic Cooperation, Asia-Europe Meeting and China-Africa Cooperation Forum, Zeng said.
 
(Xinhua News Agency May 17, 2005)