China calls on WTO for greater oversight on tariffs
China calls on WTO for greater oversight on tariffs
Commerce Minister Wang Wentao meets the Director-General of the WTO Ngozi Okonjo-Iweala in Paris. Photo courtesy of Commerce Ministry.
Commerce Minister Wang Wentao has called on the World Trade Organization to strengthen supervision over unilateral tariffs, and put forward objective and neutral policy proposals, the ministry said on Wednesday.
Wang met the Director-General of the WTO Ngozi Okonjo-Iweala on the sidelines of the Organisation for Economic Cooperation (OECD) Ministerial Council Meeting (MCM) in Paris, France on Tuesday, where they held in-depth discussions on the severe global trade situation and WTO reforms, according to a statement released by the Ministry of Commerce on Wednesday.
Wang reiterated China's stance on upholding a multilateral trading system and said the WTO has the country's backing for a more important role in global economic governance.
Wang also met with European Trade Commissioner Maros Sefcovic and had a "pragmatic and frank" discussion with his Canadian counterpart.
On WTO reforms, China supports promptly restoring the normal functioning of the dispute settlement mechanism, exploring more flexible, efficient, and responsible consensus-based decision-making approaches, accelerating the entry into force of agreements on fisheries subsidies, investment facilitation, and e-commerce, while initiating discussions on trade and environment, supply chain resilience, and artificial intelligence, Wang said.
Besides, WTO also "signed an MOU with Minister Wang to renew China's support of WTO's Least-Developed Countries (LDCs) and Accessions Programme," Okonjo-Iweala wrote in a post on X on Wednesday. (Agencies)
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