Your Excellency President Tsakhiagiin Elbegdorj, Dear Colleagues,
It gives me great pleasure to join you in the 11th ASEM Summit to review the past development of the Asia-Europe partnership, envision the bright future for our cooperation and map out a path toward it. At the outset, let me express, on behalf of the Chinese government, appreciation to the Mongolian government for its thoughtful arrangements for the summit.
On behalf of the Chinese government, I wish to offer our deepest condolences to the victims of the terrorist attack that happened a short while ago in Nice, France and express our heartfelt sympathy to the injured and the families of the victims. The government and people of China stand firmly with the people of France in strongly condemning such a terrorist attack, and the international community must work together to strengthen counter-terrorism cooperation.
This year marks the 20th anniversary of ASEM. Two decades ago, leaders with vision in Asia and Europe worked together to create ASEM, opening a new era of equal-footed dialogue, all-round cooperation and joint efforts to tackle challenges between Asia and Europe. Twenty years on, thanks to our concerted efforts, we in Asia and Europe have witnessed enhanced political trust, closer business and cultural ties, and tremendous progress in upholding regional peace and stability, promoting economic development and strengthening inter-cultural exchanges and mutual learning. For instance, China and Europe have become each other's biggest trading partner with our trade volume approaching US$700 billion last year. In fact, cooperation between Asia and Europe in various fields has reached a level that is never seen before.
The Eurasian landmass is home to more than four billion population, and generates over half of the world's GDP and nearly 70% of global trade. It boasts both mature and advanced economic circles as well as emerging economies that are rapidly on the rise. It is blessed with abundant natural resources, huge market potential and interconnected and highly complementary industries, all pointing to broad prospects for further development and cooperation. It is also an anchor for world peace and stability, an important player on the international arena. This land of shining prospect should and could well embrace an even greater role and more accomplishments in the world.
At the same time, we must recognize that this part of the world is also facing a host of eminent challenges. Economic recovery and transformation are not without difficulty, and the possible fallout of Britain's exit from the European Union is still to be felt. Problems such as terrorism and refugees are getting thorny. The latest terrorist attack in Nice shows once again that terrorism has become a most severe threat that we have to deal with.
The world is undergoing complex changes with profound adjustments in the global economy, as well as accelerated evolution in the international configuration and order. Eurasia faces both important opportunities and major challenges, and to seek cooperation and promote development remains a daunting task. The theme of the Summit, "20 Years of ASEM: Partnership for the Future Through Connectivity", reflects the common aspiration of all ASEM members. As ASEM moves into its third decade, we need to stay true to our mission of building a new type of comprehensive partnership. We need to honor the ASEM commitment to mutual respect and friendly consultation, and work actively and open up new ways to advance and elevate the all-round cooperation between Asia and Europe.
First, we need to adopt a new vision for Asia-Europe cooperation. It is important that we foster a community of shared future and deepen our friendly cooperation across the board. Over the decades, Eurasia has witnessed a growing equilibrium of power. Countries in Asia and Europe are more closely connected than before with their interests increasingly intertwined. There is a growing need for all of us to enjoy, as equal partners, political dignity, development benefits and security guarantee. We all need to act along the trend of the times, enrich and deepen the regional partnership and open up a new stage for Asia-Europe cooperation in which we all rise and thrive together.
We need to cultivate a growing sense of common responsibility to effectively respond to challenges in the region. Recent years have seen interwoven traditional and non-traditional threats in our region. Common challenges call for common efforts. We need to engage in efficient dialogue and deepen cooperation to remove new sources of turbulence in this region and work to uphold peace and stability both in the region and beyond.
We need to increase the sense of solidarity and collaboration and strengthen the role and influence of Asia and Europe in global governance. Countries in this region share a lot in common in supporting a multipolar world and advocating multilateralism. Going forward, as we continue to work together to uphold the post-war international order, we need to speak with one voice on major international issues whenever we can and endeavor to make the international order and global governance system more fair and equitable. It is of particular importance that we abandon the cold war mentality and zero-sum game approach, and uphold fairness and justice in the world.
China has always been a contributor to world peace. The Chinese culture values peace as being the most precious. Peace has always been the goal of our efforts and we are as committed as ever to the path of peaceful development. China is always a staunch supporter for international order and the rule of law. We maintain that all countries, regardless of their size, wealth and strength, should abide by the law and rules and act according to established rules of the region. There should be no double standards and no misinterpretation of international law. It is China's consistent position that disputes should be addressed peacefully through political means instead of conflict or confrontation. This coming September, the G20, the most representative and effective mechanism for global governance, will hold its summit in Hangzhou, China. We look forward to working with all parties to improve global governance and promote steady recovery of the world economy.