WTO ministerial conference a victory of multilateralism

A package of agreements reached at the recently concluded World Trade Organization's 12th Ministerial Conference－MC12－on WTO reform, epidemic response, food security, fisheries subsidies and e-commerce, has given a strong boost to the international community's confidence in the multilateral trading system.

The conference arrived at an outcome document, the first of its kind since the MC10 in Nairobi, Kenya, in 2015, in which the parties reaffirmed their commitment to strengthening the WTO-centered multilateral trading system and advancing necessary WTO reforms.

Against the backdrop of rising protectionism, a series of outcomes reached at the MC12 sends a positive signal of joint efforts to uphold the multilateral trading system and injects strong vitality into the world economic recovery. The conference touched upon problems that concern all WTO members. This once again shows that upholding a multilateral trading system not only serves the common interests of the international community, but is also a shared responsibility of all parties.