China has reaffirmed its commitment to fostering an open world economy, with Commerce Minister Wang Wentao expressing the nation’s willingness to collaborate with global partners. Speaking at the 13th Ministerial Conference of the World Trade Organization (WTO) in Abu Dhabi, United Arab Emirates, Wang emphasized China’s dedication to the multilateral trading system and the significance it places on the WTO’s efforts.
Highlighting the importance of inclusive economic globalization, Wang stressed that the WTO should work towards advancing universally beneficial trade practices. He called for safeguarding the rights to survival and development of developing members, especially the least developed countries, and enhancing the stability and resilience of global industrial and supply chains.
“An open and inclusive global economy is essential for mutual prosperity,” Wang stated. He advocated for the WTO to inject new impetus into global economic growth by promoting green industries and green manufacturing as new engines of economic development.
Moreover, Wang urged the swift incorporation of the Investment Facilitation for Development (IFD) Agreement into the WTO’s legal framework. He emphasized the necessity of establishing high-standard multilateral digital trade rules at an early date to keep pace with the evolving global trade landscape.
The conference in Abu Dhabi serves as a crucial platform for member nations to discuss and shape the future of international trade. China’s active participation and proposals underscore its role in supporting and enhancing global economic cooperation amidst challenges such as protectionism and economic uncertainty.
Reference(s):
cgtn.com
