At the Hongqiao International Economic Forum in Shanghai, China, WTO Deputy Director-General Johanna Hill (El Salvador) stressed the importance of trade as the foundation of economic, cultural and social connections between nations. “As we celebrate the 30th anniversary of the WTO, this message is more powerful than ever. Today, the WTO's 166 members represent nearly 8 billion people, and by 2023 trade in goods and services will exceed $30 trillion, six times more than when the organization was founded.«, He stressed.
Hill highlighted the impact of China's WTO membership on the country's economic growth and market reforms. "China is now the world's second largest economy and has multiplied its size 13 times since joining the WTO in 2001. In this period, hundreds of millions of Chinese citizens have been lifted out of poverty, and per capita GDP has increased from $1.000 to over $12.000," he said.
However, Hill warned of the need to confront current challenges such as climate change, public health crises and digital transformation, which were not present with the same urgency three decades ago.While current trade rules, based on transparency and non-discrimination, remain the foundation of global trade, changing realities demand new perspectives."He expressed.
DGA Hill emphasized the commitment of WTO members to address these challenges, through initiatives related to electronic commerce, investment facilitation for development, regulation of services and environmental issuess. He acknowledged China's active role in these efforts.
Specifically, Hill stressed that last July, China backed the Stabilized text of the future agreement on electronic commerce and earlier this year concluded the Agreement on Investment Facilitation for Development with 124 other WTO members. China is also one of the countries involved in implementing new rules for domestic regulation of services, which have been in force since the beginning of this year.
China also plays an active role in various WTO initiatives, in some cases acting as a coordinator. These initiatives include ongoing discussions on plastic pollution, e-commerce, support for micro, small and medium-sized enterprises (MSMEs) and the promotion of gender-sensitive trade, and highlighted calls for it to take an even greater leadership role in WTO reform and modernization.
Referring to China's recent Trade Policy Review, Hill welcomed assurances that economic reforms are underway, calling them "an essential step in building trust in an increasingly divided and cooperative world."
Finally, Hill called for strengthening cooperation within the WTO. "This is my message to all WTO members, including China: looking ahead to the next 30 years, We need to overcome our differences to build a better future for all," he concluded.Speech by Deputy Director General Johanna Hill)
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