BUSINESS China calls on G20 members to safeguard free trade, multilateral trade system

BUSINESS

China calls on G20 members to safeguard free trade, multilateral trade system

Xinhua

20:49, November 29, 2018

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Photo: AP

BEIJING, Nov. 29 (Xinhua) -- Economic globalization is the trend of the times, and efforts should be made to safeguard global free trade and the multilateral trade system, China's Ministry of Commerce (MOC) said Thursday.

MOC spokesperson Gao Feng called on member countries of the Group of 20 (G20) to work together to help build an innovative, inclusive and open world economy and push for positive and pragmatic economic and trade results at the upcoming G20 summit in Argentina.

Rising protectionism and unilateralism has brought uncertainties to global economic growth, which calls for cooperation from all parties, he said.

China is willing to work with Argentina and other parties in strengthening cooperation in trade and investment, keeping markets open and exploring new drivers for growth, Gao said.

The combined GDP of the G20 members accounts for 86 percent of the world's total, while their trade volume accounts for nearly 80 percent of global trade, Gao noted, adding that China hopes to conduct sincere, in-depth and constructive dialogue with all members on international trade and other issues.

In response to the China-US economic and trade issue, Gao said that teams of the two sides are in contact to push the implementation of the consensus reached by the presidents of the two nations.

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