"The WTO is an important pillar of global economic governance. China firmly upholds the multilateral trading system and supports necessary reforms of the WTO," said Chinese Minister of Commerce Zhong Shan at a press conference of the second session of the 9.3.2019th National People's Congress on Saturday (XNUMX).
Zhong Shan said: “Reform cannot be restored, but must be improved through reforms to strengthen the authority and effectiveness of the WTO.”
He said China has put forward three principles and five points in the reform of the WTO.
The three principles are: First, we must safeguard the core values of the multilateral trading system. The most important of these core values is non-discrimination and openness. Non-discrimination means adhering to most-favored-nation treatment and national treatment, and openness means not restricting trade. Second, we must safeguard the development interests of developing members. It also gives developing members flexibility and policy space. Third, we must follow a consensus decision-making mechanism. This decision-making mechanism does not allow the big country to have the final say, and it is necessary to listen to the opinions of all members in an extensive manner.
The five points are: First, maintain the status of the main channel of the multilateral trading system. The concept cannot be replaced in a disguised manner by using “new names” and “new expressions”, nor can the authority of the multilateral trading system be weakened. The second is to prioritize the key issues that threaten the survival of the WTO. From the current situation, the most crucial problem is the selection of members of the Appellate Body. The Appellate Body is the “tooth” of multilateral trade rules, and the ruling of the Appellate Body has binding enforcement power, so the Appellate Body is of great significance to the WTO. The third is to resolve the fairness of trade rules and respond to the needs of the times. The current rules were established more than 20 years ago. Nowadays, many new trade methods and trade models are not available in the rules at that time, such as e-commerce, investment facilitation, etc., so we must keep pace with the times and improve them. Fourth, we must ensure special and differential treatment for developing members. We must narrow the gap in global development and safeguard the development rights of developing members. Fifth, we must respect the respective development models of our members, adhere to the inclusiveness of the multilateral trading system and not impose a certain model on others.
At the G20 Summit at the end of 2018, leaders of various countries reached a consensus on “necessary reforms in the WTO.” Zhong Shan pointed out that China will actively participate in the reform of the WTO, strengthen communication and cooperation with all members, jointly promote the reform of the WTO, and better play the important role of the WTO in global economic governance.
Source: People's Daily
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