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APEC MRT Meeting to Promote New Round of WTO Talks
APEC (Asia-Pacific Economic Cooperation) top trade officials will gather in Shanghai next Wednesday and Thursday, in an effort to promote trade and investment liberalization, economic and technical cooperation and the earlier launching of a new round of WTO talks, said China's trade minister Shi Guangsheng in a recent interview.
Shi described this upcoming APEC MRT (Ministers Responsible for Trade) meeting as "of great significance", though it will be held amidst concerns over reviving trade protectionism, sluggish economic growth in some APEC members and uncertain prospects for APEC.
"On one hand, it will make preparations for the APEC Informal Leadership Meeting and the Ministerial Meeting scheduled for October this year," he said, adding that the MRT is held before trade ministers of WTO members meet in Qatar in November in a fresh attempt to kick off a new round of trade talks.
"Under such circumstances, we hope we will reach a consensus at the meeting and send the message to the international community that we support a new WTO round. This will help maintain a sound and open environment for international trade and economic cooperation in the Asia-Pacific and the world at large," Shi said.
Shi, minister of Foreign Trade and Economic Cooperation, will be the chairman for the forthcoming MRT meeting, the first of a series of ministerial-level meetings of APEC 2001.
China has always backed the multilateral trade mechanism represented by the World Trade Organization, though it is yet to become a member of WTO, Shi said. "China has made unremitting efforts in this regard during the past 15 years. After its WTO accession, China will take an active part in the multilateral economic cooperation and play a constructive role in the establishment of the world's new economic order," he added.
The Chinese government attaches great importance to APEC activities, and has been actively promoting cooperation among APEC member economies, Shi said. "As the host country for APEC 2001, China will continue to work with other members to contribute to the global and regional trade development, prosperity and social progress," he said.
China has maintained close economic and trade relations with APEC members, and bilateral trade has been on the rise year-on- year, he noted. Trade with APEC members takes up over 70 percent of China's total trade, and direct investment accounts for over 60 percent of China's total use of foreign direct investments.
Statistics provided by the General Administration of Customs indicate that China's trade with other APEC members throughout year 2000 added up to 351.72 billion U.S. dollars, a 29.8 percent increase on an annual basis. The first four months alone this year saw an aggregate trade worth 115.642 billion U.S. dollars between China and other APEC members.
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