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China pushes for open world economy
February 17, 2017, 8:24 am

Chinese Foreign Minister Wang Yi will also be attending the 53rd Munich Security Conference [Xinhua]

Chinese Foreign Minister Wang Yi told a G20 meeting in Bonn, Germany on Thursday that Beijing wants to see an open world economy system and said his country stresses multilateralism and globalization.

He called on his German hosts to work with China to promote global rebalancing and safeguard trade and investment liberalization and facilitation.

He said such efforts would ensure continued global economic growth.

During his meeting with (EU) foreign policy chief Federica Mogherini that China and Europe should work together on global security and trade.

He also called on the EU to fast track Article 15 of the protocol on China’s entry into the World Trade Organization.

China became a member of the WTO in 2001, but was accused of dumping its products in other member markets and had to adopt anti-dumping measures as stipulated by Article 15 on the Agreement on Tariffs and Trade.

China had to abide by a number of trade laws and regulations before it can be classified as a market economy.

Article 15 expired this past December.

For her part, Mogherini told Wang that the EU will make “continuous efforts to deal with the fulfillment of its obligations under the WTO”.

The BRICS Post with inputs from Agencies