Chinese Foreign Minister meets IMF chief on multilateralism, WTO reform

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New York, Sep 27 (IANS) Chinese Foreign Minister Wang Yi met Managing Director of the International Monetary Fund (IMF) Christine Lagarde here, exchanging views on multilateralism and reform of the World Trade Organization (WTO).

During the talks on Wednesday, Wang emphasized China’s stance in upholding multilateralism, free trade and international rules and law, reports Xinhua news agency.

Wang also called for increased international efforts to safeguard multilateralism.

Echoing Wang’s views, Lagarde said it was one of IMF’s principles to advocate multilateralism and international trade.

The international community should firmly protect multilateral trading system and abide by rules and regulations in international trade while addressing disputes through consultations, she said.

When discussing issues on the reform of WTO, Wang proposed the reform should be transparent, open and inclusive, since it is related to interests of all its members.

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Opinions of all WTO members, especially the developing countries, should be considered, said Wang, noting that the global trade body plays a vital role in the development of international trade.

–IANS

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