Registration was successful!
Please follow the link from the email sent to

China Calls on WTO Members to Extend Regional Trade to Multilateral Level

© AP PhotoWorld Trade Organization (WTO) headquarter in Geneva (Switzerland)
World Trade Organization (WTO) headquarter in Geneva (Switzerland) - Sputnik International
Subscribe
China calls on all World Trade Organization (WTO) member nations to extend their regional and "plurilateral" commitments to a multilateral level, Chinese Commerce Minister Gao Hucheng said Wednesday at WTO Ministerial Conference in Nairobi.

NAIROBI (Sputnik) — Chinese Commerce Minister indicated that large-scale agreements like the notorious Trans-Pacific Partnership (TPP) and the Transatlantic Trade and Investment Partnership (TTIP) ran counter to WTO's original aim of promoting global trade.

"China calls on all parties to extend regional commitments to the multilateral front," the minister said. "The biggest challenge facing the multilateral trade system at the moment is trade protectionism and [a] proliferation of regional trade agreements," he warned.

Russian Prime Minister Dmitry Medvedev - Sputnik International
Regional Trade Agreements Should Not 'Break' WTO Rules - Russian PM
Both deals seek to create unprecedented free trade zones but exclude some key regional powers, such as China.

The minister maintained that only common development was sustainable. Regional trade agreements can promote inter-regional trade, but a proliferation of such accords could cause fragmentation and increase trade costs, he argued.

The 10th Ministerial Conference of WTO's 162 member states is underway in the Kenyan capital, Nairobi, this week. On Wednesday, the ministers gathered for a plenary session where they are to deliver their statements.

Newsfeed
0
To participate in the discussion
log in or register
loader
Chats
Заголовок открываемого материала