Strong Growth In World Trade And China'S Eye Catching

WTO's latest report points out that in 2010, world trade has achieved record growth after the havoc of the economic and financial crisis, and China has made important contributions to this end.

WTO expects world trade to grow by about 6.5% in 2011.

At the same time, the preferential trade agreements between WTO members are also steadily advancing.

The 2011 world trade report released by the World Trade Organization (WTO) in Geneva in July 20th showed that the world trade grew strongly in 2010, and the total export volume of the world increased by 14.5%. The average GDP of the countries in the world increased by 3.6%.

Compared with the previous year, world trade has increased overall.

Among them, the growth situation of developing countries represented by China is dazzling.

In addition, the construction of the free trade area is another important part of the report.

Insiders pointed out that the report has some reference value for the construction of China's free trade area and the formulation of relevant trade policies.

Most economies resume positive growth

The report points out that despite the external factors such as the sovereign debt crisis, most of the world's economies have recovered positively.

As of 2010, Venezuela and Bolivar were still in recession.

The gross domestic product of Asian countries reached 8.8%, faster than that of other developing regions, mainly due to the strong growth created by China and India, and the two growth rate was 10.3% and 9.7% respectively.

At the same time, South America and Central America also achieved a strong growth of 5.8%, especially the increase of 7.5% in Brazil.

The fastest growing region in Africa in the past 5 years has achieved an average growth rate of 4.7% from 2005 to 2010.

Affected by the new financial market turbulence triggered by Greece, Ireland, Portugal and Spain, the European economic growth rate dropped to 1.9%, and the slowest growth areas were Greece and Ireland.

But Germany has still achieved a growth rate of 3.6%, more than all the euro zone economies.

According to the data provided by the OECD, net exports contributed 1.4 percentage points to German economic growth.

The report says last year's developing countries

The report points out that China has made important contributions to world trade growth, and China's imports and exports increased by 22% and 28% over the same period.

For the 2011 world trade situation, WTO is expected to grow by about 6.5%, lower than the growth rate of 14.5% last year, and Japan's disaster is one of the reasons for slowing growth.

Last year, world trade registered a record growth after the economic and financial crisis.

However, WTO wrote in its report that this is not a long-term trend. The expected growth rate of 6.5% in 2011 is already higher than the average growth rate of 6% between 1990 and 2008.

Construction of FTA needs coordination with multilateral system

The Ministry of Commerce pointed out that

According to Deutsche's voice, WTO members do not wait for the unpredictable results of the Doha round, but sign a trade agreement between countries or regions, the so-called preferential trade agreement (PTA).

According to statistics from WTO's latest world trade report, its member states have signed more than 300 bilateral and regional free trade agreements.

The organization stressed that the construction of the free trade area should be coordinated with the multilateral system so as to avoid causing chaos.

Germany's voice quoted WTO chief economist rove said that each country in the 153 member countries has signed 13 similar agreements.

Although these accounts for only 16% of all the world's preferential trade agreements, some people worry that such reciprocal trade agreements will generate protectionist tendencies, which will restrict services and investment, and are not conducive to the protection of intellectual property rights and competition.

In this regard, WTO director general Lamy also made a statement.

He pointed out that the world economy is increasingly dependent on the global production alliance, while the global production alliance relies on a well run logistical supply chain.

WTO hopes to open up new free trade agreements for other countries and provide a comprehensive legal framework for regional agreements.

Rami emphasized that the preferential trade agreement aims at further integration.

In recent years, China has steadily pushed forward the negotiations on the FTA.

Up to now, China has signed a FTA with ASEAN, Chile, Pakistan, New Zealand, Singapore and Peru. It is negotiating with the Australian and Gulf Cooperation Council (including Saudi Arabia, Kuwait, UAE, Oman, Qatar and Bahrain, Iceland, Norway, Costa Rica, southern African Customs Union) and other countries and regions. 6