G20 should take lead in championing multilateralism: Chinese state councilor

Books Sunday 24/November/2019 14:56 PM
By: Times News Service
G20 should take lead in championing multilateralism: Chinese state councilor

Nagoya (Japan): Chinese State Councilor and Foreign Minister Wang Yi said here on Saturday that the Group of 20 (G20) should take the lead in championing multilateralism.
Addressing the G20 Foreign Ministers' Meeting, Wang said the global economic momentum is slowing with increased downside risks, and the world is full of uncertainties with growing unilateralism and protectionism.
"We can not sit by idly and should take actions," he said, noting that multilateralism is key to solving various global issues.
As a major forum for international economic cooperation, G20 should take the lead in championing multilateralism and offering feasible solutions for the healthy development of world economy, Wang said.
Multilateralism, based on international law and basic principles of international relations, is aimed at maintaining world peace and common development, safeguarding equality and justice, and promoting mutual benefit and win-win, he said.
"We should stick to openness and integration and promote liberalization and facilitation of trade and investment," Wang said.
The rules-based multilateral trading system should be maintained and the World Trade Organization should be reformed as necessary, he said.
"We should foster an open, fair and non-discriminatory environment and support developing countries in continuing to enjoy 'special and differential treatment.' Individual countries should not obstruct the normal operation of multilateral mechanisms out of self-interest," he said.