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China open to any mechanism good for Asia-Pacific: commerce minister

Updated: Oct 9,2015 7:25 AM     Xinhua

BEIJING — China is open to any trade mechanism as long as they follow the rules of the World Trade Organization (WTO) and are good to economic integration of the Asia-Pacific region, Commerce Minister Gao Hucheng said.

Gao made the remarks in a recent interview concerning the Trans-Pacific Partnership (TPP), a statement posted on the commerce ministry website said on Oct 8.

“China hopes the TPP pact and other free trade arrangements in the region can boost each other and contribute to the Asia-Pacific’s trade, investment and economic growth,” said the commerce minister.

Twelve Pacific rim countries sealed the TPP deal early on Oct 5 to create the largest free trade area of the world.

“China is willing to cooperate with the US in formulating global trade regulations following the multilateral trading system so as to push forward regional and world economic development and improve people’s well-being,” said Gao.

China will make comprehensive and systematic assessment to TPP, Gao said, while holding that the changes of global trade pattern will at last be decided by industrial structure adjustment and product competitiveness in the international markets.

China will maintain the reform and open-up policy and unswervingly support global economic integration and the multilateral trading system.

China had sealed 14 free trade agreements with 22 countries and regions, including Switzerland, New Zealand, Australia, the Republic of Korea (ROK) and the Association of Southeast Asian Nations. China will continue its efforts in this respect, including pushing forward the negotiations of the China-Japan-ROK free trade zone.

China believes the WTO members will not easily give up the multilateral trading system which is benefiting the world economy, and wishes the Doha round of WTO talks would be accomplished as early as possible, Gao said.