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Chinese minister pledges support to Doha Round
By Wang Yanlin |
January 28, 2011, Friday
|
Online Edition
Online Edition
CHINA will push ahead the stalled Doha Round of negotiations, but the pact, which aims to create a new global trade order, should be fair to developing countries, China's Commerce Minister Chen Deming said in Davos, Switzerland.
"The new pact should benefit all countries, especially developing economies which require a fair treaty to guarantee their growth environment," Chen said. "It is hard to get the fruits obtained from past negotiations, and there is no way out if we give up what has been already achieved."
He said despite being a developing country and being a member of the World Trade Organization only ten years ago, China expects to contribute to a successful Doha round of negotiations and is willing to discuss with others, given it is fair to all countries.
Accession to the WTO has helped China to accelerate its economic growth and, at the same time, allowed the world to share China's success, Chen said.
Complying with its commitments, China has lowered the average tariff to 9.8 percent from 2001's 15.3 percent and reviewed more than 3,000 rules to make its market more open.
China's export increased 4.9 times in the past ten years, while import expanded 4.7 times. In 2009, China replaced Germany as the world's biggest exporter.
China's outbound foreign investment was less than US$1 billion in ten years ago, today the figure approached US$60 billion, making China the world's second-largest overseas investor.
"The new pact should benefit all countries, especially developing economies which require a fair treaty to guarantee their growth environment," Chen said. "It is hard to get the fruits obtained from past negotiations, and there is no way out if we give up what has been already achieved."
He said despite being a developing country and being a member of the World Trade Organization only ten years ago, China expects to contribute to a successful Doha round of negotiations and is willing to discuss with others, given it is fair to all countries.
Accession to the WTO has helped China to accelerate its economic growth and, at the same time, allowed the world to share China's success, Chen said.
Complying with its commitments, China has lowered the average tariff to 9.8 percent from 2001's 15.3 percent and reviewed more than 3,000 rules to make its market more open.
China's export increased 4.9 times in the past ten years, while import expanded 4.7 times. In 2009, China replaced Germany as the world's biggest exporter.
China's outbound foreign investment was less than US$1 billion in ten years ago, today the figure approached US$60 billion, making China the world's second-largest overseas investor.
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