WTO envoys expect China’s bigger role in multilateral trade system * Page 2 of 2 * Mareeg.com somalia, World News and Opinion.
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WTO envoys expect China’s bigger role in multilateral trade system

According to him, China, as an observer to the Committee on Government Procurement, is in the process of negotiating its accession to the Plurilateral Agreement on Government Procurement (GPA), and also as a participant in the Information Technology Agreement (ITA), it has agreed to its expansion.

WTO members highlighted the importance of China’s contribution to global growth in recent years and expressed appreciation for China’s active role in the WTO, Laourou said in the concluding remarks of the review.

“China, being the world’s biggest merchandise trader and one of the largest recipients of FDI, its policies have a direct impact on the global economy,” he added.

“Hence, (the WTO) members called upon China to assume the increased responsibility linked with being a major player in the multilateral trading system,” said the chairperson.

Since China joined the trade body in 2001, its role in the system has increased a lot, which has also been agreed by the review this time, WTO Director-General Roberto Azevedo told the People’s Daily.

Its exports have been increased by seven times and imports by six times, he said, adding that China also lifted more than 700 million people out of poverty.

Thumbs up should be given to these remarkable achievements, the WTO chief said. from People’s Daily

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