G20 Wants To Push Global Trade Costs Down By 15%

The twenty group of Ministers (G20) trade ministers' meeting, which was closed yesterday, released the first history of G20 in the history of G20.

The ministerial statement.

According to the conference president and Minister of Commerce Gao Hucheng at the press conference after the meeting, the conference approved the three documents of the G20 Global trade growth strategy (hereinafter referred to as the strategy), and reached a consensus on helping SMEs integrate into the global value chain.

According to the strategy, members of the group of twenty committed themselves to further measures to reduce trade costs and encourage all WTO members to fully implement the trade facilitation agreement, which can reduce global trade costs by 15% according to the full implementation of the measurement agreement.

From the three documents and two consensus adopted at this conference, it is easy to see that actively promoting the entry of SMEs into Global trade has become one of the core topics of the G20 trade ministers' meeting.

Specifically, the statement of the conference of Ministers of trade of the group of twenty clearly stated: "We support enterprises, including SMEs, to fully participate in and utilize relevant policies of the global value chain, regardless of the size of the enterprise and the stage of economic development in the country.

Members of the group of twenty capable will continue to help SMEs to adopt and comply with international and domestic standards, technical regulations and conformity assessment procedures; facilitate SMEs to obtain information related to trade and investment through information technology; further provide information to help SMEs integrate into the global value chain and move up the upstream. "

"This series of statements and commitments will become the international entry of small and medium-sized enterprises.

The "decisive policy".

Zhu Xiduo, executive director of Zhongguancun 8.130,0.08,0.99% entrepreneur association, said.

In the view of the head of a venture enterprise, the shortage of small quantities and small scale of international business has restricted the international trade of small and medium-sized enterprises in China. It is very difficult for small and medium-sized enterprises to play a supporting role in the global market and to "climb up the upstream". However, with the promise of reducing trade costs and obtaining information from SMEs, the cost of international trade services for SMEs will be greatly reduced, and a large number of small and medium-sized enterprises will have the possibility of entering the global market.

Zhu Xiduo said, for example, if small and medium-sized enterprises want to do pnational business, they need to face high intermediary, legal advice, professional qualification certification, financial certification and other service costs. These costs can be apportioned to a maximum of two or three of gross profit, which is very "substantial". If all countries can help SMEs to reduce this threshold according to documents and consensus, a large number of enterprises may find more business opportunities or even "vitality".

Li Yumei, an associate researcher of the International Economic Research Institute of the University of foreign trade and economics, told reporters that the reduction of trade costs will allow traditional labor-intensive industries, such as

Textile, machinery processing and other obvious benefits, because tariff reduction and clearance time reduction will significantly improve corporate profits.

"In fact, the full implementation of the trade facilitation agreement can reduce the global trade cost by 15%, while all goods exports are facing the issue of customs clearance. This means that all industries involved in the export of goods will benefit, but the proportion is different and the degree of benefit is different."

Zhao Ping, director of the International Trade Research Institute of the China Council for the promotion of trade, said.

Industry analysts pointed out that there is an important element in this G20 trade ministers' meeting, urging governments to avoid protectionist practices in cross-border investment and to establish a "non discriminatory, pparent and predictable" environment for investment.

Many European and American countries have accused China of dumping steel products into the international market because of its inability to digest its huge steel production capacity, resulting in the collapse of steel mills in many countries in Europe and the United States.

The Chinese side has repeatedly stressed that the countries that accuse China ignore the factors such as high efficiency, low labor force and low production costs.

And then, in the process of reducing trade costs, it will inevitably mean trade protectionism, and it will also help our steel industry get fairer treatment when we go out to sea.