EU Trade Commissioner Calls For WTO Reform Amid China's Economic Growth

MOSCOW, March 24 (Bernama-Sputnik/RIA Novosti) -- The World Trade Organisation (WTO) needs major reform amid China's economic growth, which has fundamentally changed the global trade landscape, reported Sputnik/RIA Novosti quoting the Euractiv news portal, citing European Trade Commissioner Maros Sefcovic.

Sefcovic emphasised on Monday that the organisation needs to better address issues of excess capacity and non-market policies, the report said.

He will reportedly demand "serious reform" of the WTO at a meeting in Cameroon on Thursday, declaring that China's economic rise has "dramatically changed" the global trade environment in recent decades.

"We very much [will] be insisting on serious reform of the WTO, where level playing field, overcapacity, and non-market policies must be better tackled than in the past," Sefcovic was quoted as saying by the news portal.

The commissioner also called for "new governance models" to facilitate trade disputes between member states. According to Euractiv, Sefcovic stated that Brussels intends to invite more countries to participate in the Multi-Party Interim Appeal Arbitration Arrangement, which already includes more than 60 WTO member countries.

The 14th Ministerial Conference of the World Trade Organisation will be held in the Cameroonian capital of Yaounde from March 26 to 29.

--BERNAMA-SPUTNIK/RIA NOVOSTI