Commerce ministry urges G20 members to back trade facilitation agreement

The Ministry of Commerce will urge G20 members to approve the Trade Facilitation Agreement made by the World Trade Organization by the end of this year during the G20 trade ministers' meeting in Shanghai on July 9 and 10.

Vice-Minister of Commerce Wang Shouwen said this proposal will support the development of the multilateral trade system, global investment flows and value-chain building in the current global economic climate.

The early entry into force of the TFA was approved as part of the 9th WTO Ministerial Conference held in Bali in 2013. It is designed to make a significant contribution to the sustainability of global trade and highlight the value of the WTO to its stakeholders around the world.