‘Collective’ G20 trade action eyed

China hopes leaders at Argentina summit will oppose protectionism

China hopes the upcoming G20 Leaders’ Summit in Argentina will oppose unilateralism and protectionism at a time of slowing growth in global trade and investment, Vice-Commerce Minister Wang Shouwen said on Friday.

Wang spoke ahead of President Xi Jinping’s trip to the South American country for the summit, which will be held from Nov 30 to Dec 1.

Xi will make state visits to Spain, Argentina, Panama and Portugal from Nov 27 to Dec 5, and will attend the G20 summit in Buenos Aires.

Speaking at a news briefing in Beijing, Wang said the country hopes the summit will help bring a consensus among the G20 members on upholding a multilateral trading system.

“The G20 countries showed strong leadership and took united action when coping with the global financial crisis 10 years ago. At a time that global trade is facing challenges by protectionism, we hope the G20 members can also take collective actions against unilateralism and protectionism,” Wang said.

Xi has agreed to meet with US President Donald Trump on the sidelines of the G20 summit amid escalating trade tensions in recent months that have led to both sides introducing steep tariffs on each other’s products.

“We hope both sides will meet each other halfway, through dialogues on the basis of mutual respect, equality and good faith, to find ways acceptable to both countries,” Wang said.

Trade officials of both countries have been in close contact recently and had “constructive discussions”, he added.

Assistant Foreign Minister Zhang Jun said at the news briefing that China called on various parties to stay committed at the G20 summit to the spirit of partnership featuring equality and mutual respect.

Speaking of Xi’s first state visit to Panama, which established diplomatic ties with China in June last year, ViceForeign Minister Qin Gang said the visit will help build a solid foundation for long-term steady development of bilateral ties and promote mutually beneficial cooperation.

The two countries will sign agreements on bilateral cooperation in such fields as e-commerce, infrastructure, maritime transportation and financing, Qin said.

At the news conference, Vice-Foreign Minister Wang Chao hailed China’s relationship with Spain and Portugal and said Xi’s visits to the two countries will inject fresh impetus into the sound development of China-Europe relations.