CSSN-Strengthening transparency of multilateral trade

Strengthening transparency of multilateral trade

Author : Li Yu, Zha Jianguo Source : Chinese Social Sciences Today 2016-08-01

The multilateral trading system is crucial to the world economy, scholars said at the WTO Chairs Program Round Table, held in Shanghai on July 8 under the theme “G20 and the Strengthening of the Multilateral Trading System.”

The WTO could carry out regular trade supervision in the atmosphere of protectionism that arose after the 2008 financial crisis. The role the G20 could potentially play in ensuring transparency and providing regulatory functions urgently needs to be explored, said Zhang Lei, dean of the School of the WTO Research and Education at Shanghai University of International Business and Economics.

Zhang Yuejiao, a member of the Appellate Body of WTO, stressed the important role transparency will play in promoting the development of the multilateral trading system, hoping that the G20 summit will make more achievements in the multilateral trading system, and will make greater progress in the multilateral trading system based on law in particular.

Robert Koopman, the Chief Economist of the WTO, said he hopes that the problem of coordination between regional trade agreements and the multilateral trading system will be resolved as soon as possible.

Editor: Yu Hui