Vice Commerce Minister Wang Shouwen met with Willy Alfaro, Director of Trade Policies Review Division of the WTO Secretariat in Beijing on September 22. They exchanged views on China’s preparatory work for the 6th trade policy review.
Wang Shouwen said the Chinese government attaches great importance to the WTO’s trade policy review on China in accordance with relevant regulations. This transparent procedure helps other members to learn about China’s trade and economic system and its latest policies. It also pushes China’s overall procession of deepening reform, expanding opening-up, and promoting the market economic construction. Since May, 2015, the MOFCOM has organized nearly 70 member units from the State Council, directly under the State Council, the associations and the guilds, to join the preparatory review work, and also to provide a lot of necessary written materials for the WTO Secretariat. We expect fruitful results to be made during Director Alfaroand and his delegation’s visit to China.
Alfaro said the WTO Secretariat thought highly of the 6th trade policy review on China. This visit aims to have a five-day talk with China’s relevant departments on the latest development and changes of China’s trade policies since the 5th trade policy review in July 2014. The Secretariat expects to work closely with the Chinese side to complete an accurate and high-standard Secretariat Report and well carry out the 6th trade policy review on China well.
The two sides also exchanged views on the assessment of trade policy review mechanism, G20 Trade and Investment Measure Report and the Chinese project by the WTO.
The WTO will start the 6th trade policy review of China in Geneva, Switzerland on July 5-7, 2016. The trade policy review, together with negotiation and dispute settlement mechanism, are the three functions of the WTO, aiming to improve all members’ trade policy transparency and promote steady operation of multilateral trading system through regular review. The preparatory work for member review will last for one year, including providing written information, holding policy talks with the Secretariat, modifying and commenting on the draft of Secretariat Report, composing Trade Policy Statement, answering other members’ questions in written form, taking part in review meeting and delivering the keynote speech for two times. According to the present review rules, as one of the top four WTO members regarding the trade value, China needs to accept the review every two years; meanwhile, China could also join the trade policy review of US, Japan and other members by reviewing report, proposing questions in written formal and making speech at the meeting.
