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4 points proposed to address distortions in trade
(Xinhua)
Updated: 2004-06-16 14:38
Various distortions in the existing international trading system are
hampering the development of most developing countries, Chinese Assistant
Minister of Commerce Yi Xiaozhun said in Sao Paulo, Brazil on Tuesday.
"It is the shared aspiration and responsibility of the international
community to take full advantage of the opportunities and to cope effectively
with the challenges brought about by globalization," said Yi, who is also the
head of the Chinese delegation to the 11th session of the United Nations
Conference on Trade and Development (UNCTAD).
Yi, on behalf of the Chinese government, proposed the following four points
to address the problems in the multilateral trading system:
Firstly, in the process of globalization, diversified national conditions of
each country must be respected, and developing countries should be assisted to
benefit from the growth of the world economy and to participate actively in the
decision-making and rule-setting in the global economic affairs.
Secondly, an open, fair, equitable and non-discriminatory multilateral
trading system is conducive to the sustained development of global trade and
economy. All parties, particularly the major developed trade partners, should
strengthen cooperation. Development should be at the center of the new round of
negotiations, and the special and differential treatment for developing members
should be taken into full consideration and reflected in concrete manner.
Thirdly, regional and sub-regional economic cooperation and trade
arrangements based on World Trade Organization (WTO) rules, will not only help
minimize challenges brought about by globalization, but also complement the
multilateral trading system and expand the global trade.
And fourthly, South-South cooperation and North-South dialogue are both
effective ways for developing countries to achieve growth and development. In
the face of new challenges of globalization, such cooperation and dialogue
should be further strengthened and consolidated.
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