Wen Discusses Int'l Cooperation With Spanish Counterpart

Chinese Premier Wen Jiabao urged international cooperation to overcome the global economic crisis in a telephone conversation with his Spanish counterpart Jose Luis Rodriguez Zapatero on Monday.

Spain holds the rotating presidency of the European Union (EU).

"The world economy is slowly recovering, yet we should never underestimate the seriousness and complexity of the crisis. The international community needs to further enhance cooperation with long-term efforts," said Wen.

He laid out a three-point proposal in battling the crisis: strengthening macroeconomic policy coordination and boosting market confidence, reforming the international financial system and strengthening regulation, and upholding free trade.

Speaking of the sovereign debt crisis troubling a series of European nations at present, Wen said China has noticed the bail-out package provided by the euro zone and International Monetary Fund (IMF) to Greece, adding that China will firmly support these initiatives and believes euro zone countries could overcome these difficulties and grow their economy.

Wen said, Spain is an important economy and a major trading partner of China. Bilateral cooperation in telecommunications, finance and energy has scored tremendous achievements.

"Right now, the Spanish government is taking measures to rectify finance, promote economic growth and employment. We support and believe it has the capability and resources to surmount these temporary hardship," said Wen.

He added that the Chinese government would like to work with the Spanish government in expanding mutual investment, promote a stable trade growth and enhance coordination and cooperation within the framework of G20 to contribute to a sustained recovery of the world economy.

Zapatero briefed Wen on the measures taken by the euro zone nations on the Greek debt crisis, saying his country, whose economic foundation is solid, is confident in overcoming the current problem.

Spain appreciated China's understanding and support, said Zapatero, adding that his country would like to further strengthen communication and cooperation with China bilaterally as well as within the G20 to meet the challenges of the international financial crisis and boost the recovery and growth of the world economy.

(Xinhua News Agency May 10, 2010)