   
  
WT/MIN(24)/ST/1  
26 February  2024 
(24-1223) Page: 1/2 
Ministerial Conference  
Thirteenth Session  
Abu Dhabi, 26 -29 February 2024  Original: English  
 
 
STATEMENT BY H.E. MR WANG WENTAO  
MINISTER OF COMMERCE  
CHINA 
On behalf of the government of China, I would like to start by expressing my thanks to the UAE, 
host of the MC13, for its thoughtful preparations for this conference.  
 
The world we live in is confronted by slow economic recovery, sluggish trade growth, and intensifying 
global challenges such as food crises, climate change and development divides . Economic 
globalization has come to a crossroad. The WTO is, as President Xi  Jinping pointed out, a major pillar 
of multilateralism and an important platform for global economic governance. It depends on us all 
to answer the question, "What solutions can the WTO offer? " Here, let me share with you three 
observations.  
 
1. The WTO n eeds to advance a universally beneficial and inclusive economic 
globalization.  
 
This year marks the WTO 's 30th anniversary. The Preamble of the Marrakesh Agreement Establishing 
the WTO is a constant reminder that the Organization is not just about trade; i t is a place where 
people matter. We need to make sure that all Members and social groups get their share from global 
economic growth in a way that is proportionate to the resources and labor they put in. By doing so, 
we protect the right to subsistence an d development of developing Members, especially LDCs.  
 
To that end, the WTO needs to do the following: First, it needs to put development at the core of 
its agenda, provide policy space for developing Members, and contribute to the smooth transition of 
countries graduating from the list of LDCs . Second , it needs to restore a fully - and well -functioning 
dispute settlement system , to safeguard Members ' right to defend their own interests. Third , it 
needs to advance  negotiations on topics such as agriculture, food security and fisheries subsidies, 
to protect the livelihood of small -scale farmers and artisanal fishermen . Fourth , it needs to advance 
ongoing accessions  work, and help developing Members integrate into economic globalization. Fifth, 
it needs to keep an eye on how industrial and supply chain disruptions impact developing Members, 
and enhance stability and resilience of global industrial and supply chains.  
 
2. The WTO needs to inject fresh impetus into global economic growth.  
 
The WTO has lowered its 2023 global trade growth forecast to 0.8%, and the World Bank has 
estimated that global growth in 2024 could slow down for the third consecutive year to 2.4%. To 
reverse this trend, two keywords deserve our attention: digital and green. Over 50% of trade in 
services is carried out in digital format, and more than 12% of trade in goods happens online . As 
green and low -carbon economy leads a new round of technological r evolution and industrial 
upgrading, green industries, particularly green manufacturing, will become new growth engines.  
 
To make that possible, the WTO needs to take the following steps: First,  it needs to accelerate and 
conclude negotiations for the joint  statement initiative on e -commerce to introduce high -standard 
rules for global digital trade. Second,  it needs to extend the electronic transmission moratorium to 
lower digital trade costs. Third,  it needs to liberalize and facilitate trade in environment al goods and 
services , promote circular economy and lower barriers to trade. Fourth,  it needs to incorporate the 
Agreement on Investment Facilitation for Development into the WTO 's legal framework to enable 
the role of investment in driving growth.  WT/MIN(24)/ST/1  
 
- 2 - 
 
  3. Chin a will create new opportunity for world economic recovery.  
 
Ever since China 's accession to the WTO, opening -up has been our way of achieving development 
and benefiting the whole world. China is moving forward on a Chinese path to modernization through 
high-quality development. Its door to the world will only open even wider.  
 
Committed to high -standard opening -up, China will advance digital, green and innovation -driven 
trade, and work to foster a world -class business environment that is market -oriented, la w-based 
and up to international standards. We will expand institutional opening -up by shortening negative 
lists for foreign investment, removing foreign investment restrictions in the manufacturing sector, 
and ensuring equal treatment for foreign -invested enterprises. We are confident in making solid 
economic progress in the new stage of high -quality development, which will translate into sustained 
momentum for world trade and economic growth.  
 
Colleagues,  China will work with all Members to secure a succes sful MC13 , and strive for  an open 
world economy.  
 
__________  