WTO drops by Shanghai to issue report
By Wang Yanlin |
July 24, 2010, Saturday
|
Print Edition
Print Edition
THE World Trade Report 2010 debuted in Shanghai yesterday -- the first time the World Trade Organization came to China to reveal its annual report.
"The WTO picking Shanghai to launch its annual report shows the great importance the organization attaches to the city," said Wang Xinkui, president of the Shanghai WTO Affairs Consultation Center.
"Shanghai has attracted global attention as the host of World Expo."
Pascal Lamy, WTO's director-general, attended the event yesterday.
Speaking of Shanghai's ambition of becoming a global trade center, Lamy said the city is doing well on what it can do.
"In Shanghai, trade opening has worked," Lamy said. "This region has positioned itself ahead of the curve within China on international trade."
The WTO chooses an internationally recognized subject every year to be the main topic of its annual report. This year it is "trade in natural resources."
"Natural resources are at the root of much economic activity," the report says. "Their share in world trade is growing, they are a key component of many economies, and their use and extraction have important effects on the environment."
Natural resources -- defined as stocks of materials that exist in the natural environment that are both scarce and economically useful in production or consumption, either in their raw state or after a minimal amount of processing -- include goods such as fish, forestry, fuels and mining products, the report states.
The total value of world trade in natural resources amounted to US$3.7 trillion in 2008, sixfold more than a decade earlier, or nearly 24 percent of world merchandise trade in 2008.
However, diversified policies and volatile prices have made natural resources trading a source of contention between countries.
Lamy declined to comment on specific disputes between countries. He said governments around the world should work together to boost international cooperation to address the problem.
"The WTO picking Shanghai to launch its annual report shows the great importance the organization attaches to the city," said Wang Xinkui, president of the Shanghai WTO Affairs Consultation Center.
"Shanghai has attracted global attention as the host of World Expo."
Pascal Lamy, WTO's director-general, attended the event yesterday.
Speaking of Shanghai's ambition of becoming a global trade center, Lamy said the city is doing well on what it can do.
"In Shanghai, trade opening has worked," Lamy said. "This region has positioned itself ahead of the curve within China on international trade."
The WTO chooses an internationally recognized subject every year to be the main topic of its annual report. This year it is "trade in natural resources."
"Natural resources are at the root of much economic activity," the report says. "Their share in world trade is growing, they are a key component of many economies, and their use and extraction have important effects on the environment."
Natural resources -- defined as stocks of materials that exist in the natural environment that are both scarce and economically useful in production or consumption, either in their raw state or after a minimal amount of processing -- include goods such as fish, forestry, fuels and mining products, the report states.
The total value of world trade in natural resources amounted to US$3.7 trillion in 2008, sixfold more than a decade earlier, or nearly 24 percent of world merchandise trade in 2008.
However, diversified policies and volatile prices have made natural resources trading a source of contention between countries.
Lamy declined to comment on specific disputes between countries. He said governments around the world should work together to boost international cooperation to address the problem.
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