Participants display a copy of the Initiative Against Trade and Investment Protection during the closing ceremony of the Global Think Tank Summit in Beijing, capital of China, July 4, 2009. The three-day Global Think Tank Summit ended in Beijing on July 4. (Xinhua/Xing Guangli) Photo Gallery>>>

    BEIJING, July 4 (Xinhua) -- International business communities released a joint proposal against trade and investment protectionism here Saturday at the Global Think Tank Summit.

    The proposal, jointly issued by the International Chamber of Commerce in China, European Union Chamber of Commerce in China, Japanese Chamber of Commerce and Industry in China and Korean Chamber of Commerce in China, called for internationally-united efforts to fight against all kinds of protectionism.

    All countries are closely connected and dependent on each other, and protectionism could only bring further disasters to the world economy that had already been severely damaged, said the proposal.

    The proposal called for enhanced cooperation between political leaders of major economies.

    The world should maintain an open economic system and countries involved in the Doha Round need to complete the talks as soon as possible to boost global trade and economic growth, it said.

    The proposal also called on all nations not to take measures that run against the rules of the World Trade Organization (WTO) to spur exports or set trade barriers.

    Jiang Yaoping, China's vice commerce minister, also said during the summit that China is strongly against protectionism, especially in international mergers and acquisitions.

    "Governments should guide and regulate such actions according to market rules," he said.

    The summit, which lasted for three days and concluded on Saturday, had attracted over 900 scholars, experts and business leaders from all over the world.