General

On November 25th, Wang Shouwen, Deputy Minister of Commerce and Deputy Representative of International Trade Negotiations, renewed the signing of "The Ministry of Commerce of the People’s Republic of China and the International Trade Center on the Joint Construction of the Belt and Road Initiative" with Kirk Hamilton, Executive Director of the International Trade Center via video. "Memorandum of Understanding on Strengthening Cooperation" (hereinafter referred to as "Memorandum"), and exchange views on further deepening cooperation between the two parties.

u3000u3000The two sides agreed to strengthen cooperation under the framework of the joint construction of the “Belt and Road” initiative, give full play to their respective advantages, and promote the economic and trade development of the joint construction of the “Belt and Road” initiative. Cooperation areas include: promotion of regional economic integration and South-South cooperation, promotion of regional trade facilitation, promotion of trade and investment, strengthening of trade capacity building in rural areas, etc.

The renewal of the "Memorandum of Understanding" will help consolidate and deepen the mutually beneficial cooperation between China and the International Trade Center, help the "Belt and Road" co-construction countries, especially developing countries, improve their international trade capabilities, and promote the economic recovery of countries after the epidemic. "One Road" is of positive significance in promoting the construction of a community with a shared future for global development.

u3000u3000The International Trade Center is headquartered in Geneva, Switzerland. It is jointly established by the World Trade Organization and the United Nations. It is responsible for implementing enterprise-oriented technical cooperation in the field of trade development and promoting exports of various members, especially developing members. The Ministry of Commerce has maintained a good cooperative relationship with the International Trade Center for more than 40 years.