SHANGHAI, July 2 (Xinhua) -- China and the U.S. should settle their difference on trade through dialogue and consultation on the basis of equality, officials of foreign parties have said.

"Though Egypt is geographically far away from China and the U.S., Egyptians have paid close attention to the trade relations between the two major countries," said Mohamed Zamil Zaki Alakhtaby, general secretary of the Homat Almatan party in Alexandria, Egypt. "Egypt expresses the hope that the two countries can resolve their trade frictions through consultations on the basis of equality."

"The world today has become so interconnected that a conflict between the world's two largest economies will have a negative impact on the global economy and people's livelihood in many countries," Alakhtaby said at a seminar in Shanghai.

The U.S.-initiated trade frictions with China have bedeviled markets and the global economy for months, sending jitters to global capital markets and disrupting multinational's industrial chains.

Alakhtaby, also an engineering professor, spoke highly of China's continuous efforts on promoting multilateralism and free trade, adding that initiatives such as the Belt and Road had provided new opportunities for many developing countries.

"From the viewpoint of many developing countries, China's growing competitiveness on the global arena will bring more equality, fairness as well as opportunities for development," Alakhtaby said.

Miguel Angel Sanchez, general secretary of Colombian Liberal Party, welcomed the fruitful results of the meeting between the Chinese and U.S. heads of state.

"Trade is not only a key issue concerning the two countries, but also has wider implications on many countries in the world," Sanchez said. "We call for resolving the economic issues through equal consultations."

Bachir S. Haddad, International Relations Officer of the Free Patriotic Movement of Lebanon, said China's success had inspired many developing countries, which were also keen to share the benefits of China's development.

"We support China's attitudes towards openness and cooperation. We also oppose unilateralism and trade protectionism," Haddad said.