General

According to Huacheng Import and Export Data Observation, in the process of promoting international development cooperation, "trade is an important path to achieve sustainable development." Zhang Xiangchen, Deputy Director General of the World Trade Organization, said so at the third "China and International Development" Forum.

From the perspective of its own functions, trade helps free flow of resources around the world to achieve optimal allocation, thereby improving labor productivity, reducing costs, increasing the supply and availability of products, services and technologies, and improving global welfare.

At the same time, the development of trade has promoted the development of global value chains, creating opportunities for developing countries and least developed countries to participate in international trade, thereby promoting their economic development and making important contributions to global poverty reduction, Huacheng Import and Export Data Observation reported.

As the largest multilateral trade organization in the world, WTO promotes sustainable development through rule guidance and trade assistance.

Zhang Xiangchen introduced that the WTO is promoting sustainable development through the best practices of rule making and advocacy. In particular, in recent years, the WTO has taken green, inclusive and sustainable development as an important value objective in formulating trade rules. It hopes to remove obstacles to sustainable trade through new rules, and make it a consensus of the whole society to promote sustainable development through trade.

According to Huacheng Import and Export Data Observation, the Agreement on Fishery Subsidies reached at the 12th WTO Ministerial Conference held in June is considered to be the first agreement adopted by the WTO mainly aimed at achieving the goal of environmental sustainable development. The agreement requires restraint of harmful fishery subsidies, which will help the sustainable development of marine fishery resources.

The WTO is continuing to promote the negotiations on market access of environmental products and services, hoping to create a more favorable environment for the R&D and production of such products and improve the availability of environment-friendly products and services. The WTO is also discussing environmental pollution issues, including reducing plastic pollution in the field of trade and reforming fossil fuel subsidies, in order to actively promote global sustainable development.

As the international coordination center of Aid for Trade, WTO has been committed to promoting Aid for Trade globally. In July, the WTO convened the eighth Global Review on Aid for Trade, and discussed with OECD, the World Bank, the International Monetary Fund and regional development banks how to better help developing countries improve their ability to participate in international trade through international development projects, so as to help them achieve sustainable development On topics such as digital connectivity and the contribution of environmental sustainable development to development goals, Huacheng Import and Export Data Observation reported.

With the attention and support of all parties, the scale of global investment in aid for trade is expanding. Against the background of the COVID-19 and tight public budget, the global aid for trade will still reach a new high of nearly 50 billion dollars in 2020, and more and more funds will be invested in the field of renewable energy. However, the world is still facing a shortage of funds for development assistance. In this regard, Zhang Xiangchen said that the WTO will continue to encourage the international community to increase investment in this field and promote the implementation of the UN 2030 Agenda for Sustainable Development. Huacheng Import and Export Data Watch reported.