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The G20 Trade and Investment Ministerial Meeting Held in Mar del Plata, Argentina

  

On September 14, 2018, the G20 Trade and Investment Ministerial Meeting was held in Mar del Plata, Argentina, co-chaired by Argentine Minister of Foreign Affairs Jorge Faurie and Minister of Production and Labor Dante Sica. Attending were G20 Members, trade ministers and representatives from guest countries such as Singapore and Spain, Director-General of the World Trade Organization Roberto Azevedo, representatives of international organizations like the World Bank, the International Monetary Fund and the Organization for Economic Cooperation and Development. Vice Minister of Commerce and Deputy China International Trade Representative Wang Shouwen attended the meeting on behalf of Minister of Commerce Zhong Shan.

Themed on “Building Consensus for Fair and Sustainable Development”, the meeting discussed topics on the Agro-food Global Value Chains, the New Industrial Revolution and new developments in international trade. After the meeting, the G20 Trade and Investment Ministers issued the Ministerial Statement and they had made economic and trade preparations for the G20 Buenos Aire Summit in November 30-December 1. The participants agreed to continue to deepen trade and investment cooperation, keep markets open, reinvigorate the international trading system and jointly promote sustainable economic growth; they agreed to actively engage in conversation, reduce global trade and investment risks, boost market confidence and improve WTO functions to address current and future challenges. The meeting also compiled the G20 cases and practices, providing a reference guide for countries to participate in the Agro-food Global Value Chains and seize the opportunities of the New Industrial Revolution.

Wang Shouwen noted in his speech that populism and trade protectionism are rising in the world and the multilateral trading system is facing serious challenges. The G20 is the major platform for global economic cooperation and should firmly oppose unilateralism and trade protectionism, and make positive contributions to building an open world economy. China supports the WTO in necessary reforms to solve the existential crisis facing the WTO, promotes the multilateral trading system to keep up with the times, and protects the development space of the developing members. G20 members should fully use of the opportunities brought by the global value chains and the new industrial revolution for trade and investment development, share commonly concerned information about infrastructure, technological innovation and etc., strengthen pragmatic cooperation, create a favorable environment for international trade and investment, and help developing countries and small and medium enterprises to enhance their ability of participating in international trade and investment and share the dividend of world economic development. China will unswervingly continue to open up further, implement positive and effective import policies, and create a business environment of fair competition, legalization, internationalization and facilitation. China welcomes all members to participate in the First China International Import Exposition and share China's economic development dividend.

During the meeting, Wang Shouwen held talks with the heads of some delegations and the WTO Director-General respectively.

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