Wto commemorates 30th anniversary, calls for adherence to multilateralism

The World Trade Organization (WTO) marked its 30th anniversary Thursday. The participants reviewed the historical achievements of the multilateral trading system, discussed the existential challenges facing the WTO today, and looked forward to the direction of future reform. During the event, 41 small and medium-sized economies, including Switzerland and Singapore, jointly launched the "Friends of the Multilateral Trading System" initiative.

The "Friends of the Multilateral Trading System" initiative fully recognizes the important role played by the WTO in global trade liberalization and the integration of developing countries into the world economy over the past 30 years, and points out that the current multilateral trading system faces serious challenges, including disruptions in global supply chains and rising protectionism, Xinhua reported.

The initiative calls on all parties to reaffirm their commitment to WTO rules, maintain trade openness, and jointly advance the reform of the WTO in innovative ways so that it can better meet current challenges and safeguard the fundamental role of the WTO-centered multilateral trading system.

Statements were made by the members of the ACP Group on behalf of Barbados, the African Group on behalf of Mozambique, the European Union, the United Kingdom, Indonesia, the Republic of Korea, Peru, Brazil, Nepal, Japan, China and Russia. The statement pointed out that world trade faces the risk of unilateral tariff challenges and increased uncertainty, stressed the importance of observing the WTO's basic principles of non-discrimination, called for firmly safeguarding the WTO-centered and rules-based multilateral trading system, and pledged to take concrete actions to promote the reform of the WTO and promote the success of the 14th WTO Ministerial Conference.

The Chinese representative pointed out in his speech that the current international turmoil has highlighted the core values of the WTO. The additional unilateral tariffs imposed by the US on China and other members have severely impacted the multilateral trading system with the WTO at its core and the world economy, especially the small and weak economies and least developed countries. China has taken firm countermeasures not only to safeguard its own sovereignty, security and development interests, but also to safeguard international trade rules and international fairness and justice. History has repeatedly proved that protectionism leads nowhere, and open cooperation is the right path. China is ready to work with other parties to practice genuine multilateralism, firmly uphold the WTO rules system, and inject more stability and predictability into the global economy.

In his concluding remarks, WTO Director-General Iweala encouraged members to cherish the WTO platform, promote development and security through trade, and advance WTO reform with innovative ideas.