G20 Trade Ministers to Pursue Deeper and Wider Reforms
G20 trade ministers have agreed to pursue a deeper and wider reforms that will ensure trade growth as it grows less that the global economy for the very first time in the last forty years. only a through a comprehensive and international trade system that this trend can be reversed and trade growth will be revived.
Chinese Minister of Commerce Gao Hucheng said that China is a country with a significant trade volume in terms of products and valuable export and import figures and is ready to contribute to the global trade growth. In China’s G20 presidency in 2016 the trade growth and investment will be on top of the agenda and china will be ready for cooperation and the development of a comprehensive international trade system. G20 countries are being urged to reverse the slow pace of the global trade growth by implementing policies that fit the need of the system.
Economies should be supported by the real sectors that are growth, production and job creation instead of fictional factors that have inflated values and is mostly based in consumption. Talking about the trade accord between 12 Pacific Rim nations also known as the Trans-Pacific Partnership, had the Turkish and Chinese ministers talking in the cooperation through regional integrations and the creation of an institutional structure that will boost global trade.