SCIO briefing on stabilizing the fundamentals of foreign trade and investment and promoting the quality development of commerce
0 Comment(s)
Print
E-mail China.org.cn, May 20, 2020
CGTN:
We know the spread of the COVID-19 pandemic has had a great impact on the global industrial and supply chains, which mainly benefited from the free trade and transnational investment under the framework of multilateral trading system under the WTO. However, some days ago, the director-general of WTO, Roberto Azevedo, announced he would step down in advance of his full term. What kind of influence will his resignation pose for the global multilateral trading system and the work of WTO? Will it have an impact on the safety of global industrial and supply chains? Thank you.
Wang Shouwen:
Thank you for your question. You are right. The pandemic has had a huge impact on the world economy and its trade, global industrial and supply chains. Since the outbreak of the virus, the WTO has taken active actions and implemented a series of measures, such as appealing to its members not to adopt protectionism, so as to guarantee unimpeded trade. If they decide to carry out trade restrictive measures in order to address the consequences of the pandemic, these should be reported to the WTO to ensure openness and transparency. The WTO also specifically established a response team and set up a topical website, playing important roles in the fight against the pandemic.
To address the crisis more effectively, the WTO primary members decided the organization should play a greater role. Last Thursday, the Second Extraordinary G20 Virtual Trade and Investment Ministerial Meeting was convened with the participation of Minister Zhong Shan. The meeting passed the "G20 Actions to Support World Trade and Investment in Response to COVID-19." Its announcement called for widespread support to promote the WTO in playing an even greater role in advancing international trade stability and predictability. It also requested the exploration of more WTO initiatives related to tackling the consequences of the COVID-19 outbreak, so as to ensure related supply chains became more open and resilient, especially in expanding production and trade of medicines, medical and health products.
You've just mentioned the WTO director-general proposed to resign before expiry of his tenure. China respects his decision and will endeavor to ensure the smooth operation and the role of WTO together with other members. Against the backdrop of the ongoing pandemic, we hold that jointly safeguarding the openness, safety and stability of international industrial chains serves the interests of all parties. We also appeal to WTO members to oppose unilateralism and protectionism, maintain open domestic markets and support the stability of international trade industrial and supply chains. We also called on all parties to enhance coordination in creating economic and trade policies so as to ensure smooth international transportation, normal operation of international logistics, and safe, stable, open and smooth trade, industrial and supply chains between nations. Thank you.
Go to Forum >>0 Comment(s)