Free trade was the phrase most frequently used by Premier Li Keqiang and his Australian counterpart, Malcolm Turnbull, during a tight schedule in Australia.

China and Australia can demonstrate for the world the benefits of free trade through a flourishing bilateral trade, said Premier Li.

At the news conference after the fifth round of China-Australia prime minister meeting, Turnbull said “protectionism is the shovel that will bury us deep in recession”.

Premier Li said free trade is the solution for world economic recovery, and China and Australia should deal with possible instability in the global economy and other fields with stable bilateral relations.

While attending the China-Australia CEO roundtable meeting, Premier Li said that despite the slow growth of international trade last year, bilateral trade between China and Australia increased by nine percent, more than the GDP growth of both nations.

Opening up is a win-win approach, bringing benefits to the people of all nations, said Premier Li.

In a speech at the banquet after the CEO roundtable meeting, Turnbull mentioned that China’s investment in Australia reached 15 billion Australian dollars ($11.5 billion) in 2015, much higher than in 2006.

The investment promoted Australia’s economic growth and generated employment, he said, adding that beneficial trade relations between the two nations are the foundation for common prosperity.

Premier Li said today’s development and prosperity comes from comparative advantages of all nations. Globalization and free trade could offer more choices for consumers, he said.