Chinese Premier Li Keqiang addresses the China-Indonesia Business Summit in Jakarta, Indonesia, May 7, 2018. (Xinhua/Wang Ye)

JAKARTA, May 7 (Xinhua) -- Chinese Premier Li Keqiang reaffirmed China's commitment to economic globalization and free trade while addressing the China-Indonesia Business Summit here on Monday.

"Both China and Indonesia believe in economic globalization and free trade. We both support the rules-based multilateral trading system and stand for equal consultation in settling trade disputes," Li said at the summit that was also attended by Indonesian Vice President Jusuf Kalla.

China highly values its relations with Indonesia, a major developing country and an emerging market economy carrying significant weight in the world, Li said.

During Chinese President Xi Jinping's visit to Indonesia in 2013, the two sides charted a course for the development of bilateral relations, which have embarked on a fast lane of growth, Li said. "Business cooperation has been the most vibrant and productive component of overall relations."

He proposed closer cooperation in such fields as investment, industrial capacity, trade and people-to-people exchanges.

Li expressed China's willingness to forge greater synergy between the Belt and Road Initiative and Indonesia's vision as a global maritime fulcrum.

China will support Chinese companies in participating in the development of Indonesia's regional comprehensive economic corridors, encourage Chinese enterprises to support Indonesian's infrastructure improvement and explore cooperation in ports, maritime economy, industrial processing and overseas warehouses, Li said, adding that Indonesia is also welcome to open an investment promotion center in China.

He also elaborated on China's stance on trade and investment liberalization and facilitation.

"China is ready to buy more competitive goods from Indonesia," he said. "The two sides have also agreed to boost cross-border e-commerce to facilitate the cooperation between small and medium-sized enterprises."

On people-to-people exchanges, Li said China is committed to extensive exchanges and cooperation with Indonesia on education, culture, tourism, media and sports.

The two sides have agreed to deepen tourism cooperation, open more direct flights and work toward the goal of three million mutual visits annually.