|
|
|
China urges WTO members to rise against 'unilateralism and protectionism' Yaoundé, March 26 (AFP) Mar 26, 2026 China called Thursday on countries gathered for a high-level World Trade Organization meeting in Cameroon to battle protectionism and attacks on a multilateral trading system facing an "existential challenge". Speaking at the opening of the WTO's ministerial meeting in Yaounde, Chinese Commerce Minister Wang Wentao urged countries to "jointly oppose acts of unilateralism and protectionism". In his video address, the minister pointed out that "the WTO was founded more than 30 years ago following the trend of economic globalisation". "Today, three decades later, with growing unilateralism and protectionism, the international economic and trade order under shocks, and a widening development deficit, the multilateral trading system is facing an unprecedented existential challenge," he warned. Wang was among commerce and trade ministers from around the world taking part in the meeting of WTO's supreme decision-making body, against a backdrop of geopolitical fragmentation, rising protectionism and supply chain reorganisation. The Yaounde meeting marks the WTO's first ministerial conference since US President Donald Trump returned to the White House last year, unleashing a barrage of attacks on multilateralism and WTO rules with sweeping tariffs and bilateral trade deals. "We need to come together and stay on course to firmly support the rules-based multilateral trading system with the WTO at its core," Wang said. The minister also urged countries to protect the WTO's "most-favoured nation" (MFN) principle, which aims to extend any trade advantage granted to one trading partner to all others in a bid to avoid discrimination, and which has faced heavy criticism from Washington. Countries, he insisted, should seek to "resolutely uphold the most-favored nation treatment and other fundamental principles of the WTO, jointly oppose acts of unilateralism and protectionism, and safeguard international fairness and justice". "The international economic and trade order must never return to the law of the jungle," Wang said. Over the four-day-meeting, taking place amid heightened trade tensions and global economic turmoil linked to the Middle East war, WTO members will strive to develop a plan towards reforming an organisation that has proven increasingly powerless in the face of rising protectionism. The WTO, whose decision-making procedures have long been hamstrung by a rule requiring consensus among all members, is facing calls for a dramatic overhaul to allow it to exit a deep crisis that has raised questions about its central role in regulating international trade. |
|
|
|
All rights reserved. Copyright Agence France-Presse. Sections of the information displayed on this page (dispatches, photographs, logos) are protected by intellectual property rights owned by Agence France-Presse. As a consequence, you may not copy, reproduce, modify, transmit, publish, display or in any way commercially exploit any of the content of this section without the prior written consent of Agence France-Presse.
|