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State councilor meets IMF chief on multilateralism, WTO reform

Updated: Sep 27,2018 1:46 PM     Xinhua

NEW YORK — State Councilor and Foreign Minister Wang Yi met with Managing Director of the International Monetary Fund (IMF) Christine Lagarde on Sept 26, exchanging views on multilateralism and the reform of the World Trade Organization (WTO).

During the talks, Wang emphasized China’s stance in upholding multilateralism, free trade and international rules and law.

Wang also called for increased international efforts to safeguard multilateralism.

Echoing Wang’s views, Lagarde said it was one of IMF’s principles to advocate multilateralism and international trade.

The international community should firmly protect multilateral trading system and abide by rules and regulations in international trade while addressing disputes through consultations, she said.

When discussing issues on the reform of WTO, Wang proposed the reform should be transparent, open and inclusive, since it is related to interests of all its members.

Opinions of all WTO members, especially the developing countries, should be considered, said Wang, noting that the global trade body plays a vital role in the development of international trade.