🌐🔥 The Chinese mainland has made waves in the global trade scene by announcing it will no longer seek new special and differential treatment (SDT) in ongoing or future World Trade Organization negotiations.
At a UN General Assembly event on Tuesday, the Chinese premier Li Qiang highlighted that this decision signals a stronger commitment to multilateral trade and the Global Development Initiative. Li noted this move will boost confidence in global trade liberalization and energize WTO reform.
Backing true multilateralism
Vice Commerce Minister Li Chenggang stressed that the Chinese mainland remains a developing country standing firmly with the Global South. He explained that SDT has long been a cornerstone of the system—offering longer transition periods, lower commitments, and technical support to developing members.
Since joining the WTO in 2001 as a developing member, the Chinese mainland has tackled SDT issues independently and pragmatically, contributing to key breakthroughs like the Services Domestic Regulation deal and the COVID-19 vaccine IP waiver.
Key takeaways
- Bolsters confidence in multilateral trade 🌍
- Adds new energy to WTO reform 🚀
- Reaffirms support for the Global South 🤝
Young professionals, students, and global citizens alike will be watching how this bold pledge shapes future trade talks and cross-border cooperation. Stay tuned for more developments! 👀
Reference(s):
China's no new WTO SDT pledge shows leadership in trade reform
cgtn.com
