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Trading companies' creativity needed towards recovery

(chinadaily.com.cn)
Updated: 2009-11-21 13:21

Even as China suffers from trade protectionism, more than 200 entrepreneurs from home and abroad gathered to share ideas and experiences on international trade at Beijing International Forum on Nov 19.

The Beijing International Forum 2009 is themed "WTO and China." The forum has been held annually since 2001 by the Beijing WTO Affairs Center.

"In combating trade protectionism, companies' creative solutions and ideas are highly valued. Experience sharing will inspire creativity," Zhong Qing, executive director of the Beijing WTO Affairs Center, told chinadaily.com.cn.

Trade subsidies and anti-dumping investigations into China were up to 99 cases and valued at $11.6 billion in the first 10 months.

"The potential actions are still low at present, according to WTO's model," said Willy Alfaro, senior counselor of the WTO, in an interview with chinadaily.com.cn.

WTO rules require that anti-dumping investigations must show adequate evidence of dumping, injury to the receiving country and a link between the two. Otherwise, the investigations are dropped, and the importer shall not impose higher anti-dumping tariffs.

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Alfaro also said the reason China has become a target of protectionism is that "China is now a big player in world trade and its exports keep growing."

China's monthly exports exceeded $100 billion for four months in a row to reach $110.8 billion in October, down 13.8 percent year-on-year, the smallest decline rate since January, data from the General Administration of Customs showed.

"To set the rules and follow the rules is China's way towards competitiveness. This is also Chinese companies' way," said Long Yongtu, secretary-general of Boao Forum for Asia.

Alfaro said, "China may use the system when trade issue rises. Particularly, Chinese companies could file cases to WTO. It is important to coordinate between both sides in the trade."

"At a difficult time, there are still opportunities. Keeping alert, and seeking good opportunities is our way out," said Richard Johnsson, president & CEO of Soderberg & Partners operating financial trade service in China.

"China needs open markets by all means," said Alfaro. "All countries need to contribute towards the recovery of the global economy. We cannot wait and see China alone contribute to the world."