Chinese FM, IMF chief probe multilateralism, WTO reform

BEIJING/NEW YORK - 27 September 2018: Chinese Foreign Minister Wang Yi met Managing Director of the International Monetary Fund (IMF) Christine Lagarde on the sidelines of the United Nations General Assembly (UNGA) session.

During the talks, they probed multilateralism and reforming of the World Trade Organization (WTO), the Financial Express reported on Thursday.

Wang reiterated China’s stance in supporting multilateralism, free trade and international rules and law.

He also called for increased international efforts to safeguard multilateralism.

For her part, Lagarde asserted that one of IMF’s principles is advocating 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 affirmed.

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

Wang noted the importance of considering the opinions of all WTO members, especially the developing countries, noting that the global trade body plays a vital role in the development of international trade.