President Hu Jintao speaks at the official dinner reception of the Asian-African Business Summit                                                             2005 in Jakarta, April 21, 2005

    Chinese President Hu Jintao made a three-point proposal Thursday on strengthening cooperation between Asia and Africa.

    Arrived here Thursday afternoon for the Asia-Africa Summit, Hu said in a speech at the official dinner reception of the Asian-African Business Summit 2005 in Jakarta that Asian and African countries must seize opportunities, strengthen cooperation to cope with challenges in a globalized world and seek common development.

    "In the world today, economic globalization is further developing, which presents Asian and African countries with rare opportunities as well as severe challenges," he said.

    Hu proposed that Asian and African countries proceed from national conditions while mapping out plans for development.

    "We should have full exchange and share of our respective experiences, draw upon achievements of modern civilization, better grasp and apply the objective laws on developing economy in the context of deepening economic globalization and improve the capacity of self-improvement," he said.

    The Chinese president also proposed that Asian and African countries should carry out mutually beneficial cooperation in all fields on an equal footing.

    "We should open up our markets to one another, actively work for free trade arrangements, and coordinate our economic and trade policies. We should work together to raise fund for development, deepen industrial cooperation and guard against financial risks," he said.

    It is likewise important to increase contacts and exchanges between regional organizations in Asia and Africa with a view to improving South-South cooperation, said Hu.

    He stressed that Asian and African nations should work together to create an international development environment featuring win-win cooperation.

    "A fair and rational new international economic order featuring mutual benefit is not only the common aspiration of all developing countries, but a prerequisite for sustainable development," said he.

    He proposed developing countries to strengthen coordination tourge developed countries to show more concern for the interests ofdeveloping countries and take concrete steps such as debt alleviation and development assistance with no strings attached.

    The Chinese president proposed to promote North-South dialogueand cooperation on the basis of equality and mutual benefit, support the coordinating role of the United Nations on development issues and bring about an equitable and win-win economic globalization.