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World Trade System need reforms – China

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China says it supports reforms to World Trade System, including the World Trade Organization to make it fairer and more effective.

Speaking late on Thursday to reporters after meeting French foreign minister Jeans-Yves Le Drian, Chinese State Councilor Wang Yi says “The aim of reform should be to allow countries enjoy the development fruits of globalization more fairly but not further widen the differences between south and north.”

“WTO reforms need to include listening to voices from all parties, broad consultation and should respect the opinions of developing countries, rather than just allowing “one person to have a say” he added.

China is locked in a bitter trade war with the United States and vowed repeatedly to uphold the multi-lateral trading system and free trade with the WTO at it center.

The basic tenets of the WTO in opposing protectionism and supporting free trade should not change, but the rights of developing nations should also not be overlooked.

His remarks come as China and the United States, may return to the negotiating table with the threat of new US tariffs looming.

by Maryam Hassan and Mabel Adu Boahen

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