Ngozi Okonjo-Iweala, Director-General of the World Trade Organization (WTO), highly appreciated China's staunch position to uphold the multilateral trading system and promote a greater role of the WTO, highlighting that unilateralism can lead only to a lose-lose situation.
The Chinese Ministry of Commerce released its latest report on the United States compliance of WTO rules, exposing the U.S. record as a big violator of the multilateral trading system.
When talking with China Global Television Network (CGTN), Iweala warned against the dangers of unilateralism, likening it to the disastrous policies of the 1930s that led to the Great Depression.
She highlighted the importance of global cooperation, especially for poorer nations.
"Unilateral approaches will lead to lose-lose. We've seen this movie before. In the early 1930s, we had that. So let's try not to do that. And the developing poor countries who are members of the WTO will not have the power to compete or to defend themselves against measures. So, we are really worried that they would be the losers in this, if we continue in this way," she said.
Iweala also lauded China for its strong support of the multilateral trade system, stressing its transparent engagement during trade policy reviews.
"China is a strong support of the multilateral trading system within the WTO and has continued to assure us of its support. Also, during the trade policy review, for the first time China brought a strong delegation that held a seminar here for the first time ever trying to explain China's policies to try to increase transparency. And I think that is a good thing. We need China to continue to do more and more of that. So that the questions asked by the rest of the membership can be answered," said Iweala.
China acts as important contributor to multilateral trade system: WTO Director General
Macao has been emerging as a global hub for conventions and exhibitions in recent years by exploring the enormous opportunities in the sector, driving the region to advance its economic diversification and embrace a brighter future.
Macao has received many awards this year, such as the Best Convention City (Asia) and the Best BT-MICE City, showcasing the recognition for and influence of Macao's exhibition industry.
More than 1,000 electronic game enthusiasts from all over the world gathered recently in Macao to participate in a esports themed event.
Su Zhili, organizer of the event, said that Macao's rich experience in hosting large-scale events, coupled with its good infrastructure, has driven him to choose the region as an ideal destination to hold such an activity.
"Macao has held many similar large-scale events. It has rich experience, and the facilities at the venue are relatively mature, so we can start our work comfortably," said Su.
During the first three quarters of 2024, Macao held more than 1,000 conferences and exhibitions in total.
"We will invite more professional, special conferences to be held in Macao and also cultivate more exhibition brands with international influence in Macao, so as to promote Macao's exhibitions to be more market-oriented, professional, international, digital and greener from various aspects. This is our goal," said Elaine Wong, member of the Macao Commerce and Investment Promotion Institute.
In addition, multiple large exhibitions and conferences, such as the Macao International Trade and Investment fair, the Macao Franchise Expo, and the International Infrastructure Investment and Construction Forum, are held regularly in Macao.
With the introduction of a series of policies and measures to facilitate the exchanges between the mainland and Macao, as well as the construction and development of the Guangdong-Hong Kong-Macao Greater Bay Area and the Guangdong-Macao In-Depth Cooperation Zone in Hengqin, Macao's convention and exhibition industry will embrace more opportunities for development in the foreseeable future.
"We have such a good industrial base in the Greater Bay Area. The mode of 'Convention and Exhibition + Industry' not only integrates the industries of Macao, but also the industries of the Greater Bay Area. In addition, Macao actively integrates into the national development and plays a role in the Belt and Road. Why are we so confident in Macao's convention and exhibition sector? Because it is backed by the motherland, and the country gives Macao great support," said Alan Ho, chairman of the Macao Association of Convention, Exhibition and Tourism Sectors.
Macao emerges as global hub for conventions and exhibitions, driving economic diversification and international recognition
