China's participation in the World Trade Organization (WTO) is vital to developing and maintaining a fair system for global commerce, said a Colombian minister on Tuesday at the ongoing Hongqiao International Economic Forum.
As an important part of the China International Import Expo (CIIE), which kicked off Tuesday in Shanghai, the Hongqiao International Economic Forum is held alongside the event, featuring a total of 19 sub-forums on various topics.
This year marks the 30th anniversary of the signing of the Marrakesh Agreement Establishing the WTO. During a sub-forum titled "The WTO at 30 and China: History and Evolution" on Tuesday, government officials, international organization representatives, and business leaders from across the globe emphasized China's significant economic contributions since its accession to the WTO in 2001.
"China undoubtedly plays a crucial role in the WTO system. I believe that for many developing countries, China's industrial policies are an excellent model to follow. China remains committed to multilateralism and rules-based approaches in resolving trade disputes," said Luis Carlos Reyes Hernandez, Colombia's Minister of Commerce, Industry and Tourism.
China's accession to the WTO marked a milestone in its integration into the global economy, ushering in a new era of the country's reform and opening-up. Currently, China is a major trading partner for more than 140 countries and regions worldwide.
As the world's first national-level exposition dedicated to imports, the CIIE has attracted participants from 152 countries, regions and international organizations in its country exhibition and business exhibition.