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Roundup: China signs agreement to support Least Developed Countries at WTO

Xinhua, December 15, 2015 Adjust font size:

China has pledged support for the Least Developed Countries (LDCs) in their trade negotiations as the World Trade Organization (WTO) ministerial meeting kicks off in Nairobi.

The signing of the Memorandum of Understanding (MoU) between China and the WTO Secretariat on Monday came as ministers praised the role China has played in redefining a new global trade partnership with Africa, which ministers said, would help deliver tangible benefits on trade and economic development.

"This conference comes after a successful China-Africa Summit held in South Africa. The Chinese government has identified special packages like the support for the creation of the special economic zones and industrial parks to support Africa's efforts to trade," said South African Trade Minister Rob Davies.

"We would like to see these kinds of partnerships with other regions."

China agreed to support the African countries, which form the bulk of the 34 LDCs to hold a series of Roundtable discussions on major issues, among them, the future of the multilateral trading system.

On Monday, ahead of the 10th ministerial conference of the WTO in Nairobi, the Chinese government sponsored a major debate on Africa's perspectives on the future of the global trading system.

Kenyan President Uhuru Kenyatta also praised the outcome of the Johannesburg Summit, especially the 60 billion U.S. dollar development assistance the African countries would receive from China.

"Africa will require more of such partnerships," President Kenyatta said, referring to the China-Africa Forum outcomes in Johannesburg, which focused on assisting Africa to develop good roads, railways and create industrial parks to promote trade and development.

President Kenyatta said the meeting arranged by the Chinese government was important in helping to develop a worldwide system of trade.

He said the China-Africa 4th Roundtable meeting was an important avenue for an agreement on major trade policy measures that African countries require.

The meeting was attended by trade ministers from Kenya, South Africa, Lesotho and the African Union Commissioner for Trade and Industry Fatima Acyl.

"We want to ensure we have a strong multilateral system consistent with the needs of the African countries. The AU and its member states are committed to multilateralism through the WTO. We want to see a strong WTO. It is the best way to protect the interests of the AU countries," Acyl said.

At the 4th Roundtable meeting convened by the Chinese government, ministers discussed the various policies being pursued by their countries to improve trade.

Most participants supported the Chinese proposal to support negotiations leading to the creation of a major trading bloc in Africa.

"We have to decide on the removal of the trade distortions that disadvantage us and pursue policies that allow us to industrialize," Davies said. Enditem