China will actively partake in the reform of the World Trade Organization (WTO) to make sure that the organization will benefit all its members, said Li Chenggang, China's international trade representative with the Ministry of Commerce and vice commerce minister, at a small-scale WTO ministerial meeting in Davos, Switzerland on Thursday.
Chaired by Guy Parmelin, President of the Swiss Confederation and head of the Federal Department of Economic Affairs, Education and Research, the meeting was attended by ministers or representatives from nearly 30 WTO members including China, the United States, the European Union (EU), South Africa, New Zealand, and the Republic of Korea, alongside WTO Director-General Ngozi Okonjo-Iweala.
In his address at the meeting, Li said that the fundamental principles and rules of the WTO have provided stability and predictability for global trade growth, serving as the foundation for the continuous development of the multilateral trading system.
Amid the current turbulence in international trade, the value of the WTO has become increasingly prominent. WTO members should engage in pragmatic cooperation, advance reforms to keep the multilateral trading system in line with the times, uphold the effectiveness and authority of the WTO, and better leverage its important role in global economic governance, he said.
Li emphasized that China is a staunch defender and active participant in the multilateral trading system. China supports the 14th WTO's Ministerial Conference in building greater consensus and achieving practical outcomes on issues such as formulating a WTO reform work plan, incorporating the Investment Facilitation for Development (IFD) Agreement into the WTO legal framework, extending duty-free treatment for electronically transmitted goods, and addressing food security.
He stressed that China will actively participate in WTO reform to ensure its benefits reach all members, respond to the challenges of the times, and address industry concerns.
Participants at the meeting generally acknowledged the vital value of the WTO, underscoring the critical role of the non-discrimination principle in advancing global trade and upholding a level playing field.
They expressed support for incorporating negotiation outcomes such as the IFD Agreement and the e-commerce agreement into the WTO legal framework, advocated extending the duty-free treatment for electronically transmitted goods, and called for working out a WTO reform plan to guide subsequent reform efforts, jointly striving to ensure the success of the 14th WTO's Ministerial Conference.
China to actively participate in WTO reform: vice commerce minister
