On May 31-June 1, the Meeting of G20 Work Team of Trade and Investment was held in Paris, France. The representatives of the G20 members, the guest countries like Spain, Netherlands, Singapore, New Zealand, Egypt and Kazakhstan, and the international organizations like the WTO, UNCTAD, OECD, the World Bank and the International Trade Center attended the meeting. Vice Minister of Commerce Wang Shouwen attended the opening ceremony and delivered a speech.
Wang Shouwen pointed out the growth rate of the international trade in the past four years was lower than the economic growth, and its influence as an engine on the economic growth was weakened. G20, as a main forum of the international economic cooperation, should put forward methods to conquer it. G20 should play a leading role in promoting the international trade growth through approving the Trade Facilitation Agreement, reducing trade cost, strengthening trade financing and promoting the e-commerce development.
Wang emphasized the scale of the international investment at present is still smaller than that before the financial crisis, and the fragmentation of the investment policies is serious. G20 should promote the international investment growth through formulating global investment guiding principles and strengthening the coordination and cooperation of the global investment policies.
Wang Shouwen suggested that all the parties carry out in-depth discussion and strive to make practical achievements in supporting the multilateral trading system, trade promotion and facilitation and capacity building of the global value chain.
The investment work team of G20 trade was established because of China’s initiative this year, and has held two meetings respectively, in January, Beijing and in April, Nanjing. On July 6-7, the work team will have the last meeting of the China Year in Shanghai, to make the final preparation for the Trade Ministers’ Meeting which will be held on July 9-10.