In a bid to reform global trade rules within the World Trade Organization (WTO), the European Union's trade chief, Valdis Dombrovskis, has emphasized the critical need for China to engage constructively in discussions. Dombrovskis warned that without China's involvement, other nations may implement policies that could disadvantage China.
Ministers from the WTO's 164 members are convening in Abu Dhabi from February 26 to 29 for a biennial conference focusing on various reform agendas, including those related to e-commerce and subsidies in fishing and agriculture.
Dombrovskis highlighted the EU's commitment to driving discussions on trade and industrial policy, with a focus on enabling the least developed countries to industrialize while mitigating the adverse impacts of subsidies elsewhere.
The EU trade commissioner stressed China's significant gains from the WTO framework, underlining the importance of China's participation in preserving and adapting to new challenges within the global trade system.
Failure to address pertinent issues, Dombrovskis cautioned, could prompt individual countries to pursue their own solutions, potentially exacerbating challenges for China, particularly as an export-driven economy.
While expectations for substantial agreements at the upcoming 13th ministerial conference (MC13) are modest, Dombrovskis remains hopeful, drawing parallels to previous successful ministerial meetings.
Regarding the unresolved issue of the WTO's Appellate Body, which has been non-functional since 2019 due to the U.S.'s blocking of adjudicator appointments, Dombrovskis acknowledged the lack of progress from the U.S. on this front.
Despite challenges, Dombrovskis remains optimistic about the potential for MC13 to yield positive outcomes, emphasizing the importance of collective efforts in shaping the future of global trade governance.
